Gross mortgage borrowing totalled £13.8 billion in January according to BBA

February 27, 2017

The latest High Street Banking Figures statistical report January 2017 released by the BBA 24th February reveales that gross mortgage borrowing totalled £13.8 billion in January, 6.3% higher than the same period last year, net mortgage borrowing was 2.4% last month, higher than in January 2016. House purchase approval numbers were 2.5% lower than in January 2016 but 2.5% higher than December.

Re-mortgaging approvals in January were 15.7% higher than January 2016, driven by historically low interest rates. remortgaging approvals  in January were 15.7% higher than those in January 2016 but lower than December 2016.

Eric Leenders, BBA Managing Director for Retail Banking said:  “The new year saw homeowners make the most of historically low interest rates by taking advantage of competitive re-mortgage offers. Nearly 29,000 of these deals were approved last month – 16% higher than January last year.”

Read the BBA latest High Street Banking figures statistical report 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

Foxtons Lettings Market Index – March 2025

London rental market gains momentum as new rental listings surge, Foxtons data shows   March saw a 14% increase in new rental listings across London compared to February Applicant registrations rose by 11% month-on-month in March. Year on year, demand was stable, tracking just 2% below March 2024 levels The average rent in March stood…
Read More →
Breaking News

UK’s mid-market firms show improved business growth in March but economic uncertainty continues

Key findings: NatWest’s Mid-market Growth Tracker shows improved business growth in March, led by a strong service sector performance SMEs register a softer decline in output levels during March Market conditions remain challenging and we could see continued challenges in the coming months   Mid-market businesses continued to outperform the wider UK economy in March,…
Read More →
Breaking News

ONS Private rent and house prices UK – April 2025

The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation. Main Headlines Average UK monthly private rents increased by 7.7%, to £1,332, in the 12 months to March 2025 (provisional estimate); this annual growth rate is down from 8.1% in…
Read More →
Breaking News

Renters’ Rights Bill – what you need to know

The Renters’ Rights Bill is an extremely important piece of legislation for anyone who rents their home. For those in England (with some elements also covering Wales and Scotland), it represents one of the biggest changes in well over thirty years, and it’s important to be aware of what it might mean to you if…
Read More →
Estate Agent Talk

Calculating Rental Yields and Cash Flow: Essential Tips for First-Time UK Investors

Investing in rental property can be a lucrative venture, but understanding how to calculate rental yields and cash flow is crucial for first-time investors. These metrics help determine the profitability of your investment and ensure you make informed decisions when entering the property market. If you’re considering property investment in Lincoln, working with experienced professionals…
Read More →
Home and Living

The Role of Smart Home Technology in Sustainable Real Estate

Sustainability is at the forefront of modern real estate, with homeowners and investors increasingly seeking eco-friendly solutions. Smart home technology plays a vital role in enhancing energy efficiency, reducing carbon footprints, and making properties more appealing to buyers and tenants. How Smart Home Technology Supports Sustainable Real Estate 1. Energy Efficiency & Reduced Consumption One…
Read More →