- £62.8 billion of new residential loans was advanced to individuals during October-December 2016. This was a 2.6% decrease compared to the previous quarter and a decrease of 0.4% over the past four quarters
- At 22.0%, the share of First Time Buyers in new mortgage advances reached its highest level since the time series began in 2007. This coincides with the increase in high LTV lending, although this is significantly lower than the pre-crisis level.
- The proportion of total loan balances in arrears has decreased to 1.3% at the end of Q4 2016, the lowest level since the series began. The outstanding balance in arrears is now £17.2 billion.
Long run versions of the summary and detailed tables are now available in Excel format, for data going back to Q1 2007. These have been sourced from data published by the FSA on their archive pages prior to Q1 2013 and data published by the Bank of England from Q1 2013.
We are aware of an issue regarding the increase in administered arrears from Q3 2016 and we are investigating, along with the FCA, the cause and possible solutions. We found there was an issue in our firm reporting data for administered arrears where the category of ‘other’ administered loans, which should not have been reported to us, was being included. This inflated the arrears figures published. We have since requested a resubmission of reports and as a result we are expecting to restate the arrears figures in the forthcoming publications.
If you have any comments or queries about this release please email email@example.com.