- The outstanding value of all residential mortgage loans was £1,442 billion in 2018 Q4, 3.3% higher than a year earlier (Table A).
- The value of gross mortgage advances grew 5.5% in the year to 2018 Q4, to £72.9 billion (Table A and Chart 1).
- The value of new mortgage commitments (lending agreed to be advanced in the coming months) was £68.0 billion, 4.6% higher than a year earlier (Table A and Chart 1).
- The share of lending for remortgage was 1.4 percentage points higher than a year earlier, at 31.1% (Chart 5). The share for house purchase was 1.0 percentage points lower, at 63.5%.
- As a component of lending for house purchase, the percentage of lending to home movers fell 0.9 percentage points in the year to Q4, to 29.7% of gross advances. The other two components were broadly unchanged in the year with 21.2% of lending to first-time buyers and 12.5% for buy-to-let purchases (Chart 5).
- 4.4% of mortgages advanced in Q4 had loan to value (LTV) ratios exceeding 90%, compared to 3.8% a year earlier (Chart 3).
- The proportion of high loan to income (LTI) lending (loans greater than four times the value of annual income for a single buyer or greater than three times the annual income for joint buyers) remained at 46.9% in Q4, its highest value since the series began in 2007 Q1 (Chart 4).
- The value of outstanding balances with some arrears fell slightly in the quarter to £14.4 billion. As a proportion of total balances it has remained at 1.0% (Chart 6).
Mortgage lenders and administrators statistics release 2018 Q4