Key data highlights:      

• There were 4,800 new first-time buyer mortgages completed in Wales in the fourth quarter of 2017, some 14.3 per cent more than in the same quarter of 2016. The £0.56bn of new lending was 16.7 per cent more year-on-year. The average Welsh first-time buyer is 29 and has an income of £34,000.
• There were 4,400 new home mover mortgages completed in Wales in the fourth quarter of 2017, some 10 per cent more than in the same quarter of 2016. The £0.66bn of new lending in the quarter was 11.9 per cent more year-on-year. The average Welsh home mover is 40 and has an income of £46,000.
• There were 4,600 new Welsh homeowner remortgages completed in the fourth quarter, some 9.5 per cent more than in the same quarter a year earlier. The £0.54bn of remortgaging in the fourth quarter was 12.5 per cent more year-on-year.

Commenting on the data, Julie-Ann Haines, the chair of UK Finance's Wales Mortgage Committee said:

?The Welsh mortgage market continues to grow at a steady rate, with lending increasing across the board as homeowners continue to take advantage of historically low borrowing rates.

?The number of mortgages for first-time buyers is growing at twice the rate of the UK, and clearly shows the positive impact Help to Buy Wales has had on the housing market. This is welcome news for those looking to step on to the housing ladder in Wales.?

Notes to Editor

1. For more information please call the UK Finance press office on 020 7416 6750 or mail press@ukfinance.org.uk.
2. UK Finance is a new trade association which was formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association
3. The income for a first time buyer is calculated on the basis of gross household income.  (The sum of occupants living in a household - joint or single)