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 11,700 new first-time buyer mortgages completed in London in the third quarter of 2018, some 2.6 per cent more than in the same quarter of 2017. The £3.55bn of new lending was 6 per cent more year-on-year. The average first-time buyer in the capital is 32 and has a gross household income of £70,000.
  • There were 8,100 new homemover mortgages completed in London in the third quarter of 2018, some 4.7 per cent fewer than in the same quarter of 2017. The £3.49bn of new lending in the quarter was 0.3 per cent more year-on-year. The average homemover in the capital is 37 and has a gross household income of £95,000.
  • There were 15,200 new homeowner remortgages in London completed in the third quarter, some 3.4 per cent more than in the same quarter a year earlier. The £4.76bn of remortgaging in the third quarter was 4.6 per cent more year-on-year.

First Time Buyers Affordability - London Q3 2018 (Infographic)

Home Movers Affordability - London Q3 2018 (Infographic)

Regional Lending Trends Update - London Q3 2018 (Summary)

Regional Lending Trends Update - London Q3 2018 (Data tables)


Northern Ireland

  • There were 2,700 new first-time buyer mortgages completed in Northern Ireland in the third quarter of 2018, some 3.8 per cent more than in the same quarter of 2017. The £0.28bn of new lending was 7.7 per cent more year-on-year. The average Northern Ireland first-time buyer is 30 and has a gross household income of £33,000.
  • There were 1,800 new homemover mortgages completed in Northern Ireland in the third quarter of 2018, some 5.9 per cent more than in the same quarter of 2017. The £0.24bn of new lending in the quarter was 4.3 per cent more year-on-year. The average Northern Ireland homemover is 39 and has a gross household income of £48,000.
  • There were 2,200 new homeowner remortgages in Northern Ireland completed in the third quarter, some 4.8 per cent more than in the same quarter a year earlier. The £0.24bn of remortgaging in the third quarter was 9.1 per cent more year-on-year.

First Time Buyers Affordability - Q3 2018 (Infographic)

Home Movers Affordability - Q3 2018 (Infographic)

Regional Lending Trends Update - Q3 2018 (Summary)

Regional Lending Trends Update - Q3 2018 (Data tables)


Scotland

  • There were 9,200 new Scottish homeowner remortgages completed in the third quarter, some 13.6 per cent more than in the same quarter a year earlier. The £1.18bn of remortgaging in the third quarter was 18 per cent more year-on-year.
  • There were 8,900 new first-time buyer mortgages completed in Scotland in the third quarter of 2018, some 5.3 per cent fewer than in the same quarter of 2017. The £1.04bn of new lending was 1 per cent down year-on-year. The average Scottish first-time buyer is 29 and has a gross household income of £35,000.
  • There were 9,500 new homemover mortgages completed in Scotland in the third quarter of 2018, some 1 per cent fewer than in the same quarter of 2017. The £1.53bn of new lending in the quarter was the same year-on-year. The average Scottish homemover is 39 and has a gross household income of £51,000.

First Time Buyers Affordability - Q3 2018 (Infographic)

Home Movers Affordability - Q3 2018 (Infographic)

Regional Lending Trends Update - Q3 2018 (Summary)

Regional Lending Trends Update - Q3 2018 (Data tables)


Wales

  • There were 4,300 new first-time buyer mortgages completed in Wales in the third quarter of 2018, some 2.3 per cent fewer than in the same quarter of 2017. The £0.52bn of new lending was the same year-on-year. The average Welsh first-time buyer is 29 and has a gross household income of £35,000.
  • There were 4,300 new homemover mortgages completed in Wales in the third quarter of 2018, some the same as in the same quarter of 2017. The £0.68bn of new lending in the quarter was 3 per cent more year-on-year. The average Welsh homemover is 39 and has a gross household income of £48,000.
  • There were 4,900 new Welsh homeowner remortgages completed in the third quarter, some 2.1 per cent more than in the same quarter a year earlier. The £0.61bn of remortgaging in the third quarter was 8.9 per cent more year-on-year.

First Time Buyers Affordability - Q3 2018 (Infographic)

Home Movers Affordability - Q3 2018 (Infographic)

Regional Lending Trends Update - Q3 2018 (Summary)

Regional Lending Trends Update - Q3 2018 (Data tables)