{"id":15424,"date":"2016-07-04T16:05:07","date_gmt":"2016-07-04T16:05:07","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424"},"modified":"2016-07-27T10:16:31","modified_gmt":"2016-07-27T10:16:31","slug":"mortgage-market-update-july-2016","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424","title":{"rendered":"Mortgage Market Update – July 2016"},"content":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c May Estimates<\/strong>
\nThe Council of Mortgage Lenders reported on 27th June 2016 that May\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a318.2 billion. This is 4% higher than last month’s figure, and 14% higher than last May\u00e2\u20ac\u2122s figure. The report said that this is \u00e2\u20ac\u0153the highest May figure since 2008\u00e2\u20ac\u009d.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

New Mortgages granted \u00e2\u20ac\u201c April Actual Figures<\/strong>
\nOn 15th June, the Council of Mortgage Lenders reported on April\u00e2\u20ac\u2122s gross mortgage lending for house purchase.
\nLoans to home-owners in April totalled 47,300, worth \u00c2\u00a38.1 billion. This is down 31% on March\u00e2\u20ac\u2122s in number and 40% in value. Compared to last April, it is down 5% in number and 4% in value.
\nFirst-time buyer loans totalled 25,100, valued at \u00c2\u00a33.9 billion, which is down 9% in number and 11% in value on last month. This is 7% higher in number and 15% higher in value, compared to last year.
\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a34.3 billion, and numbered 22,200. These figures are down 53% in terms of value and 46% of number on last month.\u00c2\u00a0 The figures are down 14% in value and 15% in number on last year.
\nThe number and value of remortgage loans increased \u00e2\u20ac\u201c 34,800 loans worth \u00c2\u00a36 billion were made in April. These figures are 23% higher than last month\u00e2\u20ac\u2122s in terms of volume and 25% higher in value. Over the year,\u00c2\u00a0 the figures are up by 30% in number and up 40% in value.
\nDirector General of the CML, Paul Smee, stated that \u00e2\u20ac\u0153Following the significant rises in activity in March \u00e2\u20ac\u00a6<\/em>\u00c2\u00a0<\/em>we expect the market to take several months to return to its previous levels<\/em>\u00e2\u20ac\u009d.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

Mortgages – First-time buyers and home-movers \u00e2\u20ac\u201c April 2016.<\/strong>
\nThe latest figures from CML (published 15th June 2016) show that first-time buyers’ mortgages average \u00c2\u00a3129,950, which is 84.6% loan-to-value, and 3.46 times income. The proportion of their gross income that buyers are paying to service their mortgages is 17.9% (when including capital repayments). The average age of a first-time buyer is 30 years.
\nFor home-movers, the average loan is \u00c2\u00a3162,995, with a loan-to-value ratio of 72.4%, and 3.26 times income. Income proportion spent on mortgage repayments is 18.1% when including capital repayments, and the average age is 39 years.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

Buy-to-Let Mortgages \u00e2\u20ac\u201c April 2016<\/strong>
\nThe Council of Mortgage Lenders reports that during April, the total advanced to landlords on buy-to-let mortgages was \u00c2\u00a3600 million (4,200 loans). This is down 86.0% in value and down 85.4% in number than in March. Compared with last April, the number has fallen by 51.2% and the value by 50.0%.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

Outstanding Mortgages \u00e2\u20ac\u201c April 2016<\/strong>
\nBy the end of April, the total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.292 trillion. Last April it was \u00c2\u00a31,264 trillion. This averages to \u00c2\u00a3116,642 for each of the 11.1 million households with mortgage debt.
\nSource: The Money Charity<\/em><\/p>\n

Mortgage Rates \u00e2\u20ac\u201c April 2016<\/strong>
\nBy the end of April, the average mortgage interest rate in the UK was 2.92%. For new loans, it was 2.41%. In March, the average rates were 2.94% and 2.5% respectively.
\nSource: The Money Charity<\/em><\/p>\n

*Back to July 2016 Newsletter<\/em><\/a>*<\/p>\n

\u00c2\u00a9 www.propertysurveying.co.uk<\/a> PP<\/p>\n","protected":false},"excerpt":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c May Estimates The Council of Mortgage Lenders reported on 27th June 2016 that May\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a318.2 billion. This is 4% higher than last month’s figure, and 14% higher than last May\u00e2\u20ac\u2122s figure. The report said that this is \u00e2\u20ac\u0153the highest May … Continue reading “Mortgage Market Update – July 2016”<\/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-15424","page","type-page","status-publish","hentry"],"yoast_head":"\nMortgage Market Update - July 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=15424\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update - July 2016 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c May Estimates The Council of Mortgage Lenders reported on 27th June 2016 that May\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a318.2 billion. This is 4% higher than last month’s figure, and 14% higher than last May\u00e2\u20ac\u2122s figure. The report said that this is \u00e2\u20ac\u0153the highest May … Continue reading "Mortgage Market Update – July 2016"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424\" \/>\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=\"2016-07-27T10:16:31+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=15424\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15424\",\"name\":\"Mortgage Market Update - July 2016 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2016-07-04T16:05:07+00:00\",\"dateModified\":\"2016-07-27T10:16:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15424#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15424\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=15424#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update – July 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 - July 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=15424","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update - July 2016 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c May Estimates The Council of Mortgage Lenders reported on 27th June 2016 that May\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a318.2 billion. This is 4% higher than last month’s figure, and 14% higher than last May\u00e2\u20ac\u2122s figure. The report said that this is \u00e2\u20ac\u0153the highest May … Continue reading \"Mortgage Market Update – July 2016\"","og_url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424","og_site_name":"Property Surveying NEWSLETTER","article_publisher":"https:\/\/www.facebook.com\/PropertySurveying","article_modified_time":"2016-07-27T10:16:31+00:00","twitter_misc":{"Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424","name":"Mortgage Market Update - July 2016 - Property Surveying NEWSLETTER","isPartOf":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website"},"datePublished":"2016-07-04T16:05:07+00:00","dateModified":"2016-07-27T10:16:31+00:00","breadcrumb":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15424#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.propertysurveying.co.uk\/newsletter\/"},{"@type":"ListItem","position":2,"name":"Mortgage Market Update – July 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"]}]}},"_links":{"self":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/15424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15424"}],"version-history":[{"count":0,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/15424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15424"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Ffolder&post=15424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}