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 - January 2019

  • There were 25,100 new first-time buyer mortgages completed in January 2019, 4.6 per cent more than in the same month in 2018. 25,300 homemover mortgages were completed in the month, 2.8 per cent more year-on-year. This suggests that the residential mortgage market has had a strong start to the year, despite ongoing economic uncertainty.
  • There were 5,500 new buy-to-let home purchase mortgages completed in January 2019, 1.8 per cent fewer than in the same month a year earlier. We are still seeing some contraction in the buy-to-let sector, due in part to tax and regulatory changes. However, the rate of decline is less than in January 2018, when we saw a 5.1 per cent year-on-year decrease in the number of buy-to-let home purchases.
  • There were 47,400 new homeowner remortgages completed in January 2019, 2.7 per cent fewer than in the same month a year earlier. Remortgaging in the buy-to-let sector saw a similar drop-off in activity, with 15,800 new remortgages, a 4.2 per cent drop from the year before. While this amounted to a year-on-year fall, it is worth noting that January 2018 was a particularly strong month, with the highest number of residential remortgages in nine years and the highest number of buy-to-let remortgages on record. Overall, we expect the remortgaging sector to see continued strength in 2019, as more tranches of fixed-rate deals come to an end.

Lending trends downloads - January 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