- There has been an increase in new residential mortgage lending activity in Q3 2017 from the previous quarter. £70.9 billion of new residential loans was advanced to individuals during Q3 2017. This was a 13.0% increase compared to the previous quarter and a 10.0% increase from the same quarter last year.
- New Commitments increased annually by 14.0% from £61.0 billion in Q3 2016 to £69.6 billion in Q3 2017, new commitments are now at the highest level since Q1 2008.
- New Lending grew across all customer types from the previous quarter, but proportionally less to First Time Buyers (FTBs) as opposed to house movers and remortgagers. FTB purchasers’ share decreased by 1.0 percentage points to 21.0%.
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.
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