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UK Finance's Mortgage Trends Update for November 2018 reveals:
Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance said:
?A mixture of competitive deals and schemes including Help to Buy saw even more first-time buyers get a foot on the housing ladder during November.
?Meanwhile, homeowner remortgaging activity has steadied, after reaching its highest level in a decade the previous month as a large number of fixed-rate deals came to an end.
?In the buy-to-let market new home purchases remain subdued, while remortgaging continues to grow as landlords lock into attractive rates.?
<ol><li>UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.</li> <li>The data shown is grossed up from the sample of lenders reporting to reflect total market size, based on total market volumes of Mortgage Product volumes of Mortgage Product Sales Data published by the FCA, so our historical figures are subject to revision as and when the FCA makes revisions to the market totals. The average figures shown are medians, as they tend to better represent the position of the typical borrower. Affordability measures are based on median averages of calculations for individual transactions. Capital & interest payment calculations only include mortgages taken out on a full capital and interest repayment basis and are calculated based on the reported repayment term, interest rate, loan amount and income for each transaction.</li> <li>Income metrics are presented on a gross household basis, as the sum of all income sources for all borrowers included in the affordability assessment.</li> </ol>
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