Tuesday, 16 September 2014

Mortgage Metrics from the Bank of England

UK Mortgage approvals fall in July

•Mortgage approvals fell to 66,569 in July down from 67,085 in June according to the Bank of England.
•To compare prior to the 2008 crash, months hit 90,000 and Jan 2014 hit 76,000
House Purchase lending growth remains steady in 2ndQuarter

Total gross lending in June grew by 6% on the month to £17.9 billion (20% up on June last year), according to the Bank of England. In the quarter, gross lending totalled £51.4 billion -up 11% on the first quarter, and 23% on the second quarter of 2013.

There were 28,600 first-time buyer loans in June -7% more than in May, and 19% up on June 2013. By value, there was £4.2 billion of lending to first-time buyers in June -11% up on May and 27% higher than June last year

Buy-to-let lending grew 5% over the month to £2.2 billion in June, though the number of loans was the same as May at 15,600.
bank of england

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