The Bank of England (BoE) has published its latest statistical release for Q2 2015 following the collection of data from around 300 regulated mortgage lenders and administrators. The key statistics for the period are:
- The figures show an increase of 0.8% to the overall value of outstanding residential loan amounts compared with the previous quarter and a 1.8% increase over the previous four quarters.
- The overall average interest rate on gross advances had decreased to 2.83% which was the lowest interest rate since the series began.
- The number of new arrears cases in Q2 2015 decreased by 5.5% compared to Q1 2015, and was the lowest since the series began in 2007.
- There was a 15.9% reduction in the number of new cases taken into possession compared to Q1 2015.