£62.8 billion of new residential loans was advanced to individuals during October-December 2016.

March 15, 2017
bank of england interest rate

The Bank of England – Prudential Regulation Authority released yesterday 14th March – Mortgage Lenders and Administrators Statistics – 2016 Q4.

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.

The return confirmed: £62.8 billion of new residential loans was advanced to individuals during October-December 2016. This was a 2.6% decrease compared to the previous quarter and a decrease of 0.4% over the past four quarters.

The share of First Time Buyers in new mortgage advances reached its highest level since the time series began in 2007.

The proportion of total loan balances in arrears has decreased to 1.3% at the end of Q4 2016, the lowest level since the series began. The outstanding balance in arrears is now £17.2 billion.

Read the Bank of England – Prudential Regulation Authority release in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Biggest Shake-up of Home Buying in Decades

Families and first-time buyers set to save time, money, and stress under major changes to the homebuying process – supporting the next generation and those locked out by a slow and unfair system New sales packs to ensure buyers have the information they need upfront, earlier binding agreements, and digital tools will halve the number…
Read More →
Breaking News

More than half of home movers try D.AI.Y

but 38% say it gave them bad advice   The latest research from Yopa has found that 57% of home movers have engaged in D.AI.Y, to help maintain, repair and improve their homes, although more than a third have been given advice that later turned out to be incorrect. Yopa surveyed recent homebuyers to understand…
Read More →
Breaking News

Home buying journey is about to become unrecognisable

Claire Van der Zant, CEO of Novus Strategy, comments on the Government’s homebuying reform “The industry has been very vocal in its demands for mandation and this is the most impactful example yet of government intervention that will drive the change everyone has been asking for. What it will mean is the complete reorganisation of…
Read More →
bank of england interest rate
Breaking News

Bank of England holds interest rates at 3.75%

The Bank of England has announced its decision to hold the base rate at 3.75%. This decision comes as a result of wider economic uncertainty and inflation (CPI) increasing to 3.3% in March and remaining above the Bank’s 2.0% target. Here are some thoughts from within the property industry.   Matt Smith, Rightmove’s mortgage expert…
Read More →
Rightmove logo
Breaking News

Property valuation leads to agents up 55%

Rightmove, the UK’s largest property portal, has reported a 55% year-to-date uplift in property valuation leads for agents compared with the same period last year (January – May). The uplift follows the launch of Online Agent Valuation in late 2025, designed to help agents engage more effectively with prospective sellers, alongside a series of AI enhancements across Rightmove’s valuation tools. Online Agent Valuation connects agents with motivated homeowners who choose to begin their selling journey…
Read More →
Breaking News

Britain’s equestrian homes average value of £1.3m

South East accounts for one in five opportunities The latest research from LandSale, the property portal dedicated to land and rural property, has found that those inspired to enter the equestrian world following Royal Ascot this week will need a budget of £1.265m in order to get started, with the South East home to the…
Read More →