Mortgage Lenders and Administrators Statistics - 2020 Q1

The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators.
Published on 09 June 2020

These statistics are for 2020 Q1, and therefore will be only partially affected by the impact of COVID-19 and the related policy measures.

Key findings

  • The outstanding value of all residential mortgages loans was £1,509 billion at the end of 2020 Q1, 3.9% higher than a year earlier (Table A).
  • The value of gross mortgage advances in 2020 Q1 was £65.8 billion, 3.8% higher than in 2019 Q1 (Table A and Chart 1).
  • The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 6.1% higher than a year earlier, at £67.6 billion (Table A and Chart 1).
  • The share of gross advances with interest rates less than 2% above Bank Rate was 73.2% in 2020 Q1, 10.2 percentage points (pp) lower than a year ago. The decrease was driven by the 65bp cut in Bank Rate in March rather than any significant change in mortgage interest rates (Chart 2).
  • The share of mortgages advanced in 2020 Q1 with loan to value (LTV) ratios exceeding 90% was 5.2%, 0.7pp 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 14.0%, unchanged from 2019 Q1 (Chart 5).
  • The value of outstanding balances with some arrears increased by 1.8% over the quarter to £13.7 billion, and now accounts for 0.91% of outstanding mortgage balances (Chart 6).

PDFMortgage lenders and administrative statistics - 2020 Q1

Queries

If you have any comments or queries about this release please emailĀ mlar@bankofengland.co.uk.

Next release date: 8 September 2020

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