{"id":15086,"date":"2016-03-31T10:15:35","date_gmt":"2016-03-31T10:15:35","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15086"},"modified":"2016-07-27T11:21:35","modified_gmt":"2016-07-27T11:21:35","slug":"mortgage-market-update-april-2016","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15086","title":{"rendered":"Mortgage Market Update \u00e2\u20ac\u201c April 2016"},"content":{"rendered":"<p style=\"text-align: left;\"><strong>New Mortgages granted \u00e2\u20ac\u201c February Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 17<sup>th<\/sup> March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.6 billion. This is 5% lower than last month&#8217;s figure, but 30% higher than last February\u00e2\u20ac\u2122s figure. <em>\u00e2\u20ac\u0153Lending continues the year on a positive note\u00e2\u20ac\u009d<\/em> the report said.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c January Actual Figures<\/strong><br \/>\nOn 10th March, the Council of Mortgage Lenders reported on January\u00e2\u20ac\u2122s gross mortgage lending for house purchase.<br \/>\nLoans to home-owners in January totalled 46,200, worth \u00c2\u00a38.4 billion. This is down 27% on December\u00e2\u20ac\u2122s in number and 25% in value. Compared to last January, it is up 5% in number and up 12% in value.<br \/>\nFirst-time buyer loans totalled 21,400, valued at \u00c2\u00a33.3 billion, which is down 28% in number and 27% in value on last month. However, this is 6% higher in number and 14% higher in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a35.1 billion, and numbered 24,800. These figures are down 26% in terms of value, and down 24% in number on last month.\u00c2\u00a0 The figures are up 11% in value and up 3% in number on last year.<br \/>\nThe number and value of remortgage loans increased \u00e2\u20ac\u201c 33,100 loans worth \u00c2\u00a35.8 billion were made in January. These figures are 28% higher than last month\u00e2\u20ac\u2122s in terms of volume and 35% higher in value. Over the year,\u00c2\u00a0 the figures are up by 19% in number and up 32% 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 January 2016.<\/strong><br \/>\nThe latest figures from CML (published 10th March 2016) show that first-time buyers&#8217; mortgages average \u00c2\u00a3128,960, which is 84.3% loan-to-value, and 3.45 times income. The proportion of their income that buyers are paying on interest is 9.5%, but this rises to 18.2% when including capital repayments.<br \/>\nFor home-movers, the average loan is \u00c2\u00a3166,794, with a loan-to-value ratio of 72.7%, and 3.17 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 January 2016<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during January, the total advanced on buy-to-let mortgages was \u00c2\u00a33.7 billion (23,100 loans). This is up 9% in value and up 3% in number than in December. Compared with last January, the number has risen by 31% and the value by 42%. 13,400 of these loans were for remortgage<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\u00a31.281 trillion. Last January it was \u00c2\u00a31,257 trillion. This averages to \u00c2\u00a3115,672 for each of the 11.1 million households with mortgage debt.<br \/>\n<em>Source: The Money Charity<\/em><\/p>\n<p>*<a href=\"http:\/\/www.propertysurveying.co.uk\/INDEX\/MonthlyNewsletter\/2016\/April-2016-Newsletter.html\"><em>Back to April 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 February Estimates The Council of Mortgage Lenders reported on 17th March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.6 billion. This is 5% lower than last month&#8217;s figure, but 30% higher than last February\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending continues the year on a positive note\u00e2\u20ac\u009d the report &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15086\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update \u00e2\u20ac\u201c April 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-15086","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Market Update \u00e2\u20ac\u201c April 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=15086\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update \u00e2\u20ac\u201c April 2016 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c February Estimates The Council of Mortgage Lenders reported on 17th March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.6 billion. This is 5% lower than last month&#8217;s figure, but 30% higher than last February\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending continues the year on a positive note\u00e2\u20ac\u009d the report &hellip; Continue reading &quot;Mortgage Market Update \u00e2\u20ac\u201c April 2016&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15086\" \/>\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=\"2016-07-27T11:21:35+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 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=15086\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15086\",\"name\":\"Mortgage Market Update \u00e2\u20ac\u201c April 2016 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2016-03-31T10:15:35+00:00\",\"dateModified\":\"2016-07-27T11:21:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15086#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15086\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15086#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update \u00e2\u20ac\u201c April 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 \u00e2\u20ac\u201c April 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=15086","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update \u00e2\u20ac\u201c April 2016 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c February Estimates The Council of Mortgage Lenders reported on 17th March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a317.6 billion. 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