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Mortgage lending - Bank of England by fanzhongqing

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									Section 2: Mortgage lending

Chart 2.1 - Gross mortgage lending by the major UK lenders
Sources: Bank of England and Lending Panel data
Seasonally adjusted data
£ billions

    Date        House purchase Remortgaging      Other       Gross lending   Net lending
  Jan 2007           7.2           9.2            2.4            18.8            3.7
  Feb 2007           7.8           8.9            1.7            18.5            3.7
  Mar 2007           9.3           8.6            1.7            19.6            3.3
  Apr 2007           9.1           7.9            1.7            18.6            4.2
  May 2007           8.8           8.4            1.5            18.6            3.8
  Jun 2007           9.3           8.0            1.5            18.8            4.3
  Jul 2007           8.6           8.4            1.6            18.6            4.7
  Aug 2007           8.3           7.8            1.6            17.6            4.5
  Sep 2007           7.9           9.1            1.5            18.5            4.3
  Oct 2007           8.2           9.5            1.6            19.4            4.7
  Nov 2007           7.2           9.2            1.6            18.0            4.1
  Dec 2007           6.0          10.0            1.4            17.3            4.6
  Jan 2008           5.8          12.0            1.7            19.5            7.0
  Feb 2008           6.8          11.2            1.8            19.9            7.0
  Mar 2008           7.0          10.4            1.6            19.0            6.7
  Apr 2008           6.5          11.0            1.3            18.7            6.1
  May 2008           5.6          10.4            1.1            17.1            5.8
  Jun 2008           4.7          10.3            1.0            16.0            5.4
  Jul 2008           4.4          10.0            1.2            15.5            5.7
  Aug 2008           4.2           9.1            1.2            14.5            3.6
  Sep 2008           3.7           8.8            0.9            13.4            4.1
  Oct 2008           3.2           8.9            0.8            12.9            3.8
  Nov 2008           3.4           7.6            1.0            12.0            4.0
  Dec 2008           3.8           6.2            1.1            11.1            3.5
  Jan 2009           3.0           6.6            1.0            10.6            1.9       Lending Panel data
  Feb 2009           3.4           5.6            1.1            10.1            2.6
  Mar 2009           3.9           4.6            1.2             9.7            2.0
  Apr 2009           4.2           3.6            1.0             8.8            1.6
  May 2009           4.3           3.3            1.0             8.6            1.7
Section 2: Mortgage lending

Chart 2.2 - Mortgage repayments
Source: Bank of England
Seasonally adjusted
£ billions

    Date                      Total   Repayments on redemption   Other lump sum   Regular repayments
  Jan 2006                    19.1             15.4                    1.4                2.2
  Feb 2006                    19.8             16.2                    1.5                2.2
  Mar 2006                    19.7             16.1                    1.4                2.3
  Apr 2006                    19.9             16.3                    1.4                2.2
  May 2006                    20.2             16.7                    1.4                2.3
  Jun 2006                    20.4             16.7                    1.4                2.3
  Jul 2006                    20.1             16.4                    1.4                2.3
  Aug 2006                    21.1             17.4                    1.4                2.3
  Sep 2006                    19.7             16.1                    1.4                2.3
  Oct 2006                    19.1             15.5                    1.4                2.3
  Nov 2006                    23.2             19.1                    1.5                2.3
  Dec 2006                    22.7             18.5                    1.6                2.4
  Jan 2007                    22.3             18.3                    1.6                2.4
  Feb 2007                    22.6             18.3                    1.6                2.8
  Mar 2007                    23.1             19.2                    1.5                2.5
  Apr 2007                    23.3             19.4                    1.5                2.5
  May 2007                    22.5             18.5                    1.6                2.5
  Jun 2007                    22.9             19.0                    1.5                2.5
  Jul 2007                    22.9             18.7                    1.6                2.5
  Aug 2007                    22.0             17.8                    1.6                2.5
  Sep 2007                    21.6             17.4                    1.6                2.6
  Oct 2007                    21.8             17.7                    1.5                2.6
  Nov 2007                    20.6             16.6                    1.5                2.3
  Dec 2007                    20.1             16.0                    1.5                2.3
  Jan 2008                    21.5             17.7                    1.5                2.3
  Feb 2008                    22.2             18.7                    1.4                2.4
  Mar 2008                    20.3             16.6                    1.6                2.3
  Apr 2008                    21.5             17.4                    1.8                2.5
  May 2008                    20.3             16.5                    1.5                2.4
  Jun 2008                    19.0             15.3                    1.5                2.4
  Jul 2008                    17.7             14.1                    1.3                2.4
  Aug 2008                    18.2             14.6                    1.2                2.3
  Sep 2008                    14.5             10.7                    1.5                2.2
  Oct 2008                    14.5             10.6                    1.7                2.4
  Nov 2008                    14.0             10.1                    1.1                2.6
  Dec 2008                    12.9              9.1                    1.0                2.5
  Jan 2009                    13.1              8.9                    1.3                2.7
  Feb 2009                    12.0              8.0                    1.1                2.6
  Mar 2009                    11.5              7.5                    1.2                2.6
  Apr 2009                    10.7              6.7                    1.2                2.7
Section 2: Mortgage lending

Chart 2.3 - Applications and acceptances for mortgages for house purchase by major UK lenders
Source: Lending Panel data
Non seasonally adjusted

     Date                Number of applications        Total acceptance rate
                             Thousands                        Per cent
   Dec 2008                       46                           72.03
   Jan 2009                       53                           70.69
   Feb 2009                       57                           73.31
   Mar 2009                       66                           74.37
   Apr 2009                       65                           75.13
   May 2009                       67                           76.45
Section 2: Mortgage lending

Chart 2.4 - Approvals for mortgages for house purchase
Sources: Bank of England and Lending Panel data
Seasonally adjusted
Thousands

                                              Major UK lenders
     Date            Major UK lenders        (Lending Panel data)   Total
   Jan 2007                59.7                                     120.0
   Feb 2007                61.2                                     116.0
   Mar 2007                62.8                                     113.0
   Apr 2007                60.7                                     109.0
   May 2007                62.3                                     112.0
   Jun 2007                65.7                                     113.0
   Jul 2007                64.8                                     113.0
   Aug 2007                61.7                                     108.0
   Sep 2007                60.2                                     101.0
   Oct 2007                55.0                                      89.0
   Nov 2007                57.0                                      83.0
   Dec 2007                54.9                                      76.0
   Jan 2008                60.5                                      72.0
   Feb 2008                58.0                                      68.0
   Mar 2008                52.7                                      60.0
   Apr 2008                47.6                                      55.0
   May 2008                41.8                                      40.0
   Jun 2008                37.4                                      35.0
   Jul 2008                36.1                                      33.0
   Aug 2008                35.8                                      32.0
   Sep 2008                37.9                                      34.0
   Oct 2008                34.5                                      33.0
   Nov 2008                33.6                                      28.0
   Dec 2008                35.7                      38.6            33.0
   Jan 2009                35.4                      34.3            32.0
   Feb 2009                37.3                      36.2            38.0
   Mar 2009                38.1                      36.4            40.0
   Apr 2009                41.0                      42.1            43.0
   May 2009                                          45.0
Section 2: Mortgage lending

Chart 2.5 - Effective interest rates on new mortgage lending to individuals by monetary financial institutions
Source: Bank of England
Non seasonally adjusted
Per cent

    Date         Floating mortgage rate    Fixed mortgage rate     Overall mortgage rate     Bank Rate
  Jan 2005                5.28                    5.37                     5.31                4.75
  Feb 2005                5.31                    5.35                     5.33                4.75
  Mar 2005                5.32                    5.34                     5.33                4.75
  Apr 2005                5.33                    5.35                     5.34                4.75
  May 2005                5.34                    5.34                     5.34                4.75
  Jun 2005                5.35                    5.31                     5.34                4.75
  Jul 2005                5.33                    5.20                     5.27                4.75
  Aug 2005                5.28                    5.02                     5.14                4.50
  Sep 2005                5.17                    4.84                     4.97                4.50
  Oct 2005                5.18                    4.78                     4.93                4.50
  Nov 2005                5.17                    4.75                     4.90                4.50
  Dec 2005                5.10                    4.75                     4.89                4.50
  Jan 2006                5.11                    4.83                     4.94                4.50
  Feb 2006                5.08                    4.89                     4.98                4.50
  Mar 2006                5.05                    4.89                     4.97                4.50
  Apr 2006                5.05                    4.90                     4.97                4.50
  May 2006                5.03                    4.88                     4.95                4.50
  Jun 2006                4.97                    4.92                     4.94                4.50
  Jul 2006                4.96                    4.99                     4.97                4.50
  Aug 2006                5.08                    5.12                     5.09                4.75
  Sep 2006                5.16                    5.18                     5.16                4.75
  Oct 2006                5.15                    5.20                     5.17                4.75
  Nov 2006                5.23                    5.18                     5.21                5.00
  Dec 2006                5.35                    5.15                     5.25                5.00
  Jan 2007                5.50                    5.20                     5.34                5.25
  Feb 2007                5.65                    5.29                     5.43                5.25
  Mar 2007                5.60                    5.33                     5.43                5.25
  Apr 2007                5.61                    5.38                     5.47                5.25
  May 2007                5.70                    5.42                     5.52                5.50
  Jun 2007                5.80                    5.48                     5.59                5.50
  Jul 2007                5.95                    5.58                     5.71                5.75
  Aug 2007                6.10                    5.74                     5.88                5.75
  Sep 2007                6.00                    5.89                     5.94                5.75
  Oct 2007                5.96                    5.95                     5.96                5.75
  Nov 2007                6.05                    5.98                     6.02                5.75
  Dec 2007                5.96                    5.95                     5.95                5.50
  Jan 2008                5.92                    5.92                     5.92                5.50
  Feb 2008                5.85                    5.88                     5.86                5.25
  Mar 2008                5.84                    5.78                     5.82                5.25
  Apr 2008                5.78                    5.76                     5.77                5.00
  May 2008                5.80                    5.79                     5.80                5.00
  Jun 2008                5.86                    5.94                     5.91                5.00
  Jul 2008                5.98                    6.06                     6.02                5.00
  Aug 2008                6.06                    6.12                     6.09                5.00
  Sep 2008                6.03                    6.19                     6.09                5.00
  Oct 2008                5.76                    6.06                     5.89                4.50
  Nov 2008                4.70                    5.99                     5.25                3.00
  Dec 2008                3.81                    5.61                     4.58                2.00
  Jan 2009                3.41                    5.23                     4.14                1.50
  Feb 2009                3.26                    4.93                     4.14                1.00
  Mar 2009                3.02                    4.66                     3.97                0.50
  Apr 2009                2.99                    4.59                     4.04                0.50
  May 2009                                                                                     0.50

								
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