Key findings
- The outstanding value of all residential mortgage loans was £1,541.4 billion at the end of 2020 Q4, 2.9% higher than a year earlier (Table A).
- The value of gross mortgage advances in 2020 Q4 was £76.6 billion, 4.2% higher than in 2019 Q4 (Table A and Chart 1).
- The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 24.2% higher than a year earlier, at £87.7 billion, and the highest level since 2007 Q3 (Table A and Chart 1).
- The share of gross advances with interest rates less than 2% above Bank Rate was 64.8% in 2020 Q4, 20.5 percentage points (pp) lower than a year ago (Chart 2).
- The share of mortgages advanced in 2020 Q4 with loan to value (LTV) ratios exceeding 90% was 1.2%, 4.5pp lower than a year earlier and the lowest level since these statistics began in 2007 (Chart 3).
- The share for house purchase for owner occupation was 63.9%, up 11.8pp from 2019 Q4. The share of gross advances for remortgages for owner occupation was 18.5%, a decrease of 10.7pp since 2019 Q4 (Chart 5).
- The value of outstanding balances with some arrears increased by 3.4% over the quarter to £14.3 billion, and now accounts for 0.93% of outstanding mortgage balances (Chart 6).
Mortgages Lenders and Administrators Statistics - 2020 Q4