BOE report on UK residential loan value

September 8, 2015

The Bank of England and Financial Conduct Authorit’s Mortgage Lenders and Administrators Statistics report revealed on tuesday that the overall value of residential loans was £1,272bn in the second quarter,  the value of UK residential loans rose 1.8% in the second quarter compared to a year ago, with growth in first time buyers and buy-to-let lending.

Gross advances were £52.5bn during the quarter, up 1.9% on a year ago and 15.1% higher than the previous three months. The proportion of gross advances at fixed rates increased to 78.9% from 77.6% in the first quarter,  the average interest rate on gross advances decreased by 16 basis points to 2.83% in second quarter compared to 2.99% in the first three months, marking the lowest rate since the series began in 2007.

First time buyers saw the value of residential loans increase to £11.4bn in the second quarter from £10.8bn last year, while the value for buy-to-let lending from £7bn to £8.3bn.

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

Overseas Property

How UK Property Investors Can Manage Exchange Rate Risk When Buying Off-Plan Overseas

Off-plan purchases are especially common in developing overseas property markets with a high proportion of international investors. In these less mature markets, a significant share of stock is sold directly by developers, making off-plan transactions a natural sales model. These opportunities appeal to international buyers because they typically require less upfront cash due to extended…
Read More →
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 →