- The outstanding value of all residential mortgages loans was £1,499 billion at end-2019 Q4, 3.8% higher than a year earlier (Table A).
- The value of gross mortgage advances was £73.4 billion, broadly unchanged in comparison to 2018 Q4 (Table A and Chart 1).
- The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 4.0% higher than a year earlier, at £70.6 billion (Table A and Chart 1).
- The share of gross advances with interest rates less than 2% above Bank Rate was 85.3%, a 1.4 percentage point (pp) increase in comparison to a year ago. This is the highest share since 2008 Q3 (Chart 2).
- The share of mortgages advanced in 2019 Q4 with loan to value (LTV) ratios exceeding 90% reached 5.7%, 1.4pp higher than a year earlier (Chart 3).
- The share of gross mortgage lending for buy-to-let purposes (covering house purchase, remortgage and further advance) was 12.4%, consistent with 2018 Q4 (Chart 5).
- The value of outstanding balances with some arrears fell by 2.1% over the quarter to £13.4 billion, and now accounts for 0.89% of outstanding mortgage balances (Chart 6).