The Bank of England (BoE) has published its mortgage lenders and administrators statistics for Q4 2015.  In summary, the statistics show that:

  • The overall value of residential loan amounts outstanding in Q4 2015 increased by 0.7% compared with Q3 2015, and increased by 2.5% over the past four quarters.  Amounts outstanding on regulated loans constituted 79% of the total in Q4 2015.
  • Gross advances of £63.1 billion were recorded in Q4 2015.  This was 1% higher than in Q3 2015 and 22.8% higher than Q4 2014.  The percentage of advances to borrowers with impaired credit history has increased by 6.7 basis points to 0.26% in Q4 2015.  The proportion of balances outstanding to these borrowers is continuing to decrease, to 0.93% in Q4 2015.
  • The overall average interest rate on total amounts outstanding decreased by 4 basis points to 3.07% in Q4 2015, the lowest since the series began in 2007.  This was due to a decrease in the average fixed rate to 3.14% and a decrease in the average variable rate to 3.00%.
  • The proportion of lending for house purchase in Q4 2015 was 69.3%, approximately 0.8 percentage points lower than in Q3 2015.
  • The number of new arrears cases in Q4 2015 was 20,370.  This was almost the same as in Q3 2015 which was the lowest level since the series began in 2007.