Mortgage Lenders and Administrators Statistics - 2020 Q2

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 08 September 2020

Key findings

  • The outstanding value of all residential mortgages loans was £1,513.3 billion at the end of 2020 Q2, 3.2% higher than a year earlier (Table A).
  • The value of gross mortgage advances in 2020 Q2 was £44.1 billion, 33.3% lower than in 2019 Q2 (Table A and Chart 1).
  • The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 53.2% lower than a year earlier, at £34.3 billion (Table A and Chart 1).
  • The share of gross advances with interest rates less than 2% above Bank Rate was 73.3% in 2020 Q2, 10.5 percentage points (pp) lower than a year ago. The decrease was driven by the 65 basis point (bp) cut in Bank Rate in March rather than any significant change in mortgage interest rates (Chart 2).
  • The share of mortgages advanced in 2020 Q2 with loan to value (LTV) ratios exceeding 90% was 4.9%, 0.6pp lower 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 14.4%, an increase of 1.2pp from 2019 Q2 (Chart 5).
  • The value of outstanding balances with some arrears increased by 2.8% over the quarter to £14.1 billion, and now accounts for 0.93% of outstanding mortgage balances (Chart 6).

PDFMortgage lenders and administrative statistics - 2020 Q2

Queries

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

Next release date: 8 December 2020

More information

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

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