The Bank of England and the FCA have published the latest Mortgage Lenders and Administrators Statistics for the United Kingdom for Q1 2015.

Key figures include:

  • The overall value of residential loan amounts outstanding increased by 1.5% compared to the prior year to £1,261 billion in Q1 2015.
  • Gross advances of £45.6 billion were recorded in Q1 2015, 3.2% lower than Q1 2014.
  • The overall average interest rate on gross advances decreased to its lowest rate since the series began in 2007, by 25bps from 3.26% in Q4 2014 to 3.01% in Q1 2015.
  • Buy-to-let lending over the past year increased in value terms from £6.8 billion in Q1 2014 to £7.6 billion in Q1 2015.