You are here: Home - Mortgages - Buy To Let - News -

Mortgage lending jumps 10% as buy to let takes a hit

0
Written by:
13/03/2018
Mortgage lending hit £69.1bn in the final three months of 2017, a 10% increase from the same period a year earlier, according to quarterly Bank of England data.

Activity in the traditionally slower final quarter of the year, was 2.5% lower from the previous three months, the data showed.

At the same time, new commitments increased 5.2% annually to £64.9bn.

However, the market’s share of buy-to-let lending fell to 12.7% at the end of 2017 – the lowest percentage since 2013.

First-time buyer numbers leap

At the same time, first-time buyers’ share of mortgage lending increased to 21.1%.

The total value of outstanding residential lending stood at £1,395bn in Q4 2017.

The share of new lending in the highest loan to income (LTI) brackets increased overall compared to the previous quarter, the data showed.

However, the proportion of higher loan to value (LTV) mortgages fell, with new lending above 90% falling around 0.5 percentage points to 3.8%.

There was a slight fall in the amount of new loans for house purchases, driven by a decrease in home movers, the Bank of England said.

On the other hand, the proportion of lending to borrowers in the form of remortgages increased to 29.7% of the market.

The proportion of total loan balances in arrears continued to decrease and was at a record low of 1.08% at the end of Q4 2017.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Pork pies out as GoPros added to inflation shopping basket

A host of new food items have been added to the official list of products used to measure inflation, while...

Close