{"id":14937,"date":"2016-03-02T12:50:25","date_gmt":"2016-03-02T12:50:25","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14937"},"modified":"2016-07-27T13:24:40","modified_gmt":"2016-07-27T13:24:40","slug":"mortgage-market-update-march-2016","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14937","title":{"rendered":"Mortgage Market Update &#8211; March 2016"},"content":{"rendered":"<p><strong>New Mortgages granted \u00e2\u20ac\u201c January Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 18th February that January\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.9 billion. This is 9% lower than last month&#8217;s figure, but 21% higher than last January\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153This is the highest lending total for a January since 2008\u00e2\u20ac\u009d the report said.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c December Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports (16th February) that gross mortgage lending for house purchase by home-owners in December totalled 62,700 loans, worth \u00c2\u00a311.1 billion. This is up 4.2% from November\u00e2\u20ac\u2122s in number and 3.7% higher in value. Compared to last December, it is up 11.8% in number and up 18.1% in value.<br \/>\nOf these, first-time buyer loans totalled 29,300, valued at \u00c2\u00a34.5 billion, which is up 5.8% in number and 7.1% in value on last month. This is 11.4% higher in number and 18.4% higher in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a36.6 billion, and numbered 33,400. These figures are up 1.5% in terms of value, and up 1.5% in number on last month. The figures are up 20.0% in value and up 12.1% in number on last year.<br \/>\nThe number and value of remortgage loans decreased in the month \u00e2\u20ac\u201c 25,500 loans worth \u00c2\u00a34.2 billion were made in December. These figures are 15.8% lower than last month\u00e2\u20ac\u2122s in terms of volume and 16.0% lower in value. Over the year, however, the figures are up by 13.8% in number and up 23.5% in value.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Mortgages &#8211; First-time buyers and home-movers \u00e2\u20ac\u201c December 2015.<\/strong><br \/>\nThe latest figures from CML (published 16th February 2015) show that first-time buyers&#8217; mortgages average \u00c2\u00a3130,999, which is 80.4% loan-to-value, and 3.50 times income. The proportion of their income that buyers are paying on interest is 9.6%, but this rises to 18.2% when including capital repayments.<br \/>\nFor home-movers, the average loan is \u00c2\u00a3166,500, with a loan-to-value ratio of 73.2%, and 3.21 times income. Income proportion spent on interest is 7.7%, which rises to 18.1% when including capital repayments.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Buy-to-Let Mortgages \u00e2\u20ac\u201c December 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during December 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.4 billion (22,500 loans). This is down 2.9% in value and down 3.4% in number than in November. Compared with last December, the number has risen by 30.1% and the value by 36.0%.<br \/>\n11,900 loans worth \u00c2\u00a31.9 billion were for remortgage \u00e2\u20ac\u201c a decrease of 9.2% in number and of 9.5% in value on the previous month. Compared to last December, the figures are up 38.4% in number and up 35.7% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 10,300 worth \u00c2\u00a31.4 billion, a rise of 3.0% in number and of 7.7% in value on last month, and a rise of 19.8% in number and of 27.3% in value on December 2014.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Outstanding Mortgages \u00e2\u20ac\u201c January 2016<\/strong><br \/>\nBy the end of January, the total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.299 trillion. Last January it was \u00c2\u00a31,255 trillion. This averages to \u00c2\u00a3117,305 for each of the 11.1 million households with mortgage debt.<br \/>\n<em>Source: The Money Charity<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c 4th Quarter 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports (16th February) that gross mortgage lending for house purchase by home-owners in Q4 2015 totalled 189,100 loans, worth \u00c2\u00a333.7 billion. This is up 0.9% from Q3\u00e2\u20ac\u2122s in number but 0.3% lower in value. Compared to Q4 last year, it is up 8.5% in number and up 16.2% in value.<br \/>\nOf these, first-time buyer loans totalled 87.100, valued at \u00c2\u00a313.3 billion, which is up 3.4% in number and 3.1% in value on last quarter. This is 8.2% higher in number and 13.7% higher in value, compared to Q4 last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a320.3 billion, and numbered 101,900. These figures are down 2.9% in terms of value, and down 1.5% in number on the third quarter. The figures are up 18.0% in value and up 8.6% in number on Q4 last year.<br \/>\nThe number and value of remortgage loans increased in the quarter \u00e2\u20ac\u201c 89,000 loans worth \u00c2\u00a315.0 billion were made in Q4. These figures are 21.4% higher than Q3\u00e2\u20ac\u2122s in terms of volume and 35.1% higher in value. Compared with Q4 2014, however, the figures are up by 21.4% in number and up 35.1% in value.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Mortgages &#8211; First-time buyers and home-movers \u00e2\u20ac\u201c Q4 2015.<\/strong><br \/>\nThe latest figures from CML (published 16th February 2015) show that first-time buyers&#8217; mortgages averaged \u00c2\u00a3129,495 in the quarter, which is 82.9% loan-to-value, and 3.48 times income. The proportion of their income that buyers are paying on interest is 9.7%, but this rises to 18.3% when including capital repayments.<br \/>\nFor home-movers, the average loan was \u00c2\u00a3165,999 in Q4, with a loan-to-value ratio of 72.9%, and 3.19 times income. Income proportion spent on interest is 7.6%, which rises to 18.1% when including capital repayments.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Buy-to-Let Mortgages \u00e2\u20ac\u201c Quarter 4, 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during Q4 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a310.7 billion (70,500 loans). This is down 0.9% in value and down 1.3% in number than in Q3. Compared with Q4 last year, the number has risen by 30.6% and the value by 40.8%.<br \/>\n38,200 loans worth \u00c2\u00a36.2 billion were for remortgage \u00e2\u20ac\u201c an increase of 2.7% in number and unchanged in value on the previous quarter. Compared to Q4 last year, the figures are up 42.0% in number and up 44.2% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 31,600 worth \u00c2\u00a34.3 billion, a fall of 5.7% in number and of 4.4% in value on last quarter, but a rise of 17.9% in number and of 30.3% in value on Q4 2014.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p>*<a href=\"http:\/\/www.propertysurveying.co.uk\/INDEX\/MonthlyNewsletter\/2016\/March-2016-Newsletter.html\"><em>Back to March 2016 Newsletter<\/em><\/a>*<\/p>\n<p>\u00c2\u00a9 \u00c2\u00a0www.propertysurveying.co.uk \u00c2\u00a0 \u00c2\u00a0 PP<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Mortgages granted \u00e2\u20ac\u201c January Estimates The Council of Mortgage Lenders reported on 18th February that January\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.9 billion. This is 9% lower than last month&#8217;s figure, but 21% higher than last January\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153This is the highest lending total for a January since &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14937\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update &#8211; March 2016&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-14937","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Market Update - March 2016 - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14937\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update - March 2016 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c January Estimates The Council of Mortgage Lenders reported on 18th February that January\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.9 billion. This is 9% lower than last month&#8217;s figure, but 21% higher than last January\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153This is the highest lending total for a January since &hellip; Continue reading &quot;Mortgage Market Update &#8211; March 2016&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14937\" \/>\n<meta property=\"og:site_name\" content=\"Property Surveying NEWSLETTER\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertySurveying\" \/>\n<meta property=\"article:modified_time\" content=\"2016-07-27T13:24:40+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14937\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14937\",\"name\":\"Mortgage Market Update - March 2016 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2016-03-02T12:50:25+00:00\",\"dateModified\":\"2016-07-27T13:24:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14937#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14937\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14937#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update &#8211; March 2016\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\",\"name\":\"Property Surveying NEWSLETTER\",\"description\":\"The NEWSLETTER\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#organization\",\"name\":\"Property Surveying NEWSLETTER\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/cropped-property-surveying-logo-for-newsletter-body-1.png\",\"contentUrl\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/cropped-property-surveying-logo-for-newsletter-body-1.png\",\"width\":240,\"height\":50,\"caption\":\"Property Surveying NEWSLETTER\"},\"image\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/PropertySurveying\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mortgage Market Update - March 2016 - Property Surveying NEWSLETTER","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14937","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update - March 2016 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c January Estimates The Council of Mortgage Lenders reported on 18th February that January\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.9 billion. 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