Lending trends

Trends covering member mortgage lending in the UK. Data is shown for first-time buyers and homeowners, house purchase and remortgaging, with affordability measures in the residential and buy-to-let markets.

Latest Data - February 2019

  • There were 24,880 new first-time buyer mortgages completed in February 2019, 4.1 per cent more than in the same month in 2018. 23,660 homemover mortgages were completed in the month, 0.1 per cent more year-on-year. While homemovers are at the same levels they were at this time last year, this is the fifth consecutive month of year-on-year growth in first-time buyers.
  • There were 18,200 new remortgages with additional borrowing in February 2019, 10 per cent more than in the same month in 2018. For these remortgages the average additional money taken out in February was £52,000. Additionally, there were 18,360 pound-for-pound remortgages (with no additional borrowing), 7.8 per cent more than in the same period last year.
  • The average loan to value ratio in the remortgaging market was 57 per cent while the average loan-to-income ratio was 2.74. This is considerably lower than mortgages for house purchases which showed an average loan to value ratio of 72 per cent and a loan-to-income ratio of 3.37. Customer engagement in the remortgaging market remains high with borrowers able to access a wide range of competitive products.
  • There were 4,800 new buy-to-let home purchase mortgages completed in February 2019, 7.7 per cent fewer than in the same month in 2018. There were 14,400 remortgages in the buy-to-let sector, 2.1 per cent more than in the same period last year. While buy-to-let house purchases continue to contract due to tax and regulatory changes, buy-to-let remortgaging has increased as borrowers move from fixed rate mortages and lock into new attractive rates.
  • With effect from February 2019, we have made material changes to our mortgage trends release. You can find more information on these changes in our accompanying FAQs and blog.

Lending trends downloads - February 2019

UKF Mortgage Trends Update (PDF)

UKF Mortgage Trends Update (XLS)

Home movers affordability in the UK - January 2019

First time buyer affordability in the UK - January 2019

Remortgagors affordability in the UK - January 2019

LONG RUN DATA - UK FINANCE MEMBERS ONLY