Regional Lending Trends

Trends covering member mortgage lending in regions of the UK.  Data is shown for first-time buyers and homeowners, house purchase and remortgaging, with affordability measures in the residential mortgage markets of London, Scotland, Wales and Northern Ireland.

Latest data

London

  • There were 11,000 new first-time buyer mortgages completed in London in the fourth quarter of 2018, 5.8 per cent more than in the same quarter of 2017. The £3.2 billion of new lending was 7.4 per cent more year-on-year. In 2018, there were 42,800 new first-time buyer mortgages, 0.5 per cent more than in 2017. The £12.6 billion of new lending was 2.6 per cent more than in 2017. 
  • There were 7,400 new homemover mortgages completed in London in the fourth quarter of 2018, 1.3 per cent fewer than in the same quarter of 2017. The £3.1 billion of new lending in the quarter was 3.3 per cent more year-on-year. In 2018, there were 28,800 new homemover mortgages, 5 per cent less than in 2017. The £12 billion of new lending was 1.9 per cent less than in 2017.
  • There were 15,000 new homeowner remortgages in London completed in the fourth quarter, 2.7 per cent more than in the same quarter a year earlier. The £4.6 billion of remortgaging in the fourth quarter was 1.8 per cent more year-on-year. In 2018, there were a total of 60,400 new homeowner remortgages, 6.2 per cent more than in 2017. This is the highest annual number of remortgages in London since 2008 when this figure stood at 111,900. The £18.8 billion of remortgaging in the year was 8.3 per cent more than in 2017.

First Time Buyers Affordability - London Q4 2018 (Infographic)

Home Movers Affordability - London Q4 2018 (Infographic)

Regional Lending Trends Update - London Q4 2018 (Summary)

Regional Lending Trends Update - London Q4 2018 (Data tables)


Northern Ireland

  • There were 2,900 new first-time buyer mortgages completed in Northern Ireland in the fourth quarter of 2018, 11.5 per cent more than in the same quarter of 2017. The £0.31 billion of new lending was 19.2 per cent more year-on-year. In 2018, there were 10,500 new first-time buyer mortgages, 9.4 per cent more than in 2017. This is the highest annual number of first-time buyer mortgages in Northern Ireland since 2004 when this figure stood at 10,600. The £1.1 billion of new lending in the year was 14.6 per cent more than in 2017. 
  • There were 1,900 new homemover mortgages completed in Northern Ireland in the fourth quarter of 2018, 5.6 per cent more than in the same quarter of 2017. The £0.26 billion of new lending was 13 per cent more year-on-year. In 2018, there were 6,600 new homemover mortgages, 6.5 per cent more than in 2017. This is the highest annual number of homemover mortgages in Northern Ireland since 2007 when the figure stood at 12,700. The £0.9 billion of new lending in the year was 9.9 per cent more than in 2017.
  • There were 2,600 new homeowner remortgages in Northern Ireland completed in the fourth quarter, 18.2 per cent more than in the same quarter a year earlier. The £0.28 billion of remortgaging in the fourth quarter was 21.7 per cent more year-on-year. In 2018, there were 9,500 new homeowner remortgages, 11.8 per cent more than in 2017. This is the highest annual number of homeowner remortgages in Northern Ireland since 2009 when this figure stood at 10,100. The £1 billion of remortgaging in the year was 14.8 per cent more than in 2017.

First Time Buyers Affordability - NI Q4 2018 (Infographic)

Home Movers Affordability - NI Q4 2018 (Infographic)

Regional Lending Trends Update - NI Q4 2018 (Summary)

Regional Lending Trends Update - NI Q4 2018 (Data tables)


Scotland

  • There were 9,000 new first-time buyer mortgages completed in Scotland in the fourth quarter of 2018, 5.9 per cent more than in the same quarter of 2017. The £1.07 billion of new lending was 9.2 per cent more year-on-year. In 2018, there were 34,100 new first-time buyer mortgages, 3.1 per cent less than in 2017. The £4 billion of new lending in the year was 2 per cent more than in 2017.
  • There were 9,000 new homemover mortgages completed in Scotland in the fourth quarter of 2018, 2.3 per cent more than in the same quarter of 2017. The £1.46 billion of new lending in the quarter was 5.8 per cent more year-on-year. In 2018, there were 34,300 new homemover mortgages, 0.9 per cent less than in 2017. The £5.5 billion of new lending in the year was 1.5 per cent more than in 2017.  
  • There were 9,600 new Scottish homeowner remortgages completed in the fourth quarter, 14.3 per cent more than in the same quarter a year earlier. The £1.21 billion of remortgaging in the fourth quarter was 16.3 per cent more year-on-year. In 2018, there were 35,400 new homeowner remortgages, 11 per cent more than in 2017. This is the highest annual number of homeowner remortgages in Scotland since 2011 when the figure stood at 36,400. The £4.5 billion of remortgaging in the year was 13.8 per cent more than in 2017.

First Time Buyers Affordability - Scotland Q4 2018 (Infographic)

Home Movers Affordability - Scotland Q4 2018 (Infographic)

Regional Lending Trends Update - Scotland Q4 2018 (Summary)

Regional Lending Trends Update - Scotland Q4 2018 (Data tables)


Wales

  • There were 4,800 new first-time buyer mortgages completed in Wales in the fourth quarter of 2018, 4.3 per cent more than in the same quarter of 2017. The £0.58 billion of new lending in the quarter was 7.4 per cent more year-on-year. In 2018, there were 16,800 new first-time buyer mortgages, 1.2 per cent more than in 2017. This is the highest annual number of first-time buyer mortgages in Wales since 2006 when the figure stood at 16,900. The £2 billion of new lending in the year was 4.1 per cent more than in 2017.
  • There were 4,400 new homemover mortgages completed in Wales in the fourth quarter of 2018, 2.3 per cent more than in the same quarter of 2017. The £0.69 billion of new lending in the quarter was 6.2 per cent more year-on-year. In 2018, there were 15,800 new homemover mortgages, 0.6 per cent more than in 2017. This is the highest number of homemover mortgages in Wales since 2007 when there were 25,600. The £2.5 billion of new lending in the year was 4.7 per cent more than in 2017.
  • There were 5,400 new Welsh homeowner remortgages completed in the fourth quarter, 22.7 per cent more than in the same quarter a year earlier. The £0.67 billion of remortgaging in the fourth quarter was 28.8 per cent more year-on-year. In 2018, there were 20,100 new homeowner remortgages, 12.3 per cent more than in 2017. This is the highest annual number of remortgages in Wales since 2008 when the figures stood at 38,600. The £2.4 billion of remortgaging in the year was 16.3 per cent more than in 2017.

First Time Buyers Affordability - Wales Q4 2018 (Infographic)

Home Movers Affordability - Wales Q4 2018 (Infographic)

Regional Lending Trends Update - Wales Q4 2018 (Summary)

Regional Lending Trends Update - Wales Q4 2018 (Data tables)