Bank of England confirms an increase in new residential mortgage lending activity in Q3 2017 from the previous quarter.
Statistical release from The Bank of England published 12th December 2017.
Mortgage Lenders and Administrators Statistics – 2017 Q3 reveals:
There has been an increase in new residential mortgage lending activity in Q3 2017 from the previous quarter. £70.9 billion of new residential loans was advanced to individuals during Q3 2017. This was a 13.0% increase compared to the previous quarter and a 10.0% increase from the same quarter last year.
New Commitments increased annually by 14.0% from £61.0 billion in Q3 2016 to £69.6 billion in Q3 2017, new commitments are now at the highest level since Q1 2008.
New Lending grew across all customer types from the previous quarter, but proportionally less to First Time Buyers (FTBs) as opposed to house movers and remortgagers. FTB purchasers’ share decreased by 1.0 percentage points to 21.0%.
Read the statistical report published 12th December 2017 in full click here.