The British Bankers’ Association (BBA) has published its latest figures for high street lending in April 2016, confirming the following:

  • Total gross mortgage borrowing of £12 billion took place in April 2016, 12% higher than in April 2015.
  • Net mortgage borrowing was around 3% higher than a year ago.
  • Consumer credit achieved an annual growth of about 5%, reflecting improved confidence and in the case of personal loans and overdrafts favourable interest rates.
  • House purchase approval numbers resumed a downward trend at 6% lower than in April 2015.
  • Remortgaging approvals increased at 16% higher than in April 2015.
  • Other advances were 25% higher than a year ago.
  • Personal deposits have been growing more strongly in recent months and annual growth has risen to 4.8% in April.
  • ISA deposits only grew by £3.0 billion over the March and April investment period, compared with £6.2 billion in the same period of 2015.

According to the Mortgage Advice Bureau National Mortgage Index (the Index), the number of mortgage products available in the market in April 2016 reached 20,237, a 49.47% increase on last year and the highest level seen since March 2008. The Index also shows a 6.57% increase on March in mortgage applications.

Finally, the Building Societies Association (BSA) confirmed the Q1 2016 figures on mortgage lending and savings provided by building societies in the UK, to be as follows:

  • Building Societies approved 109,600 mortgage loans, a 32% share of the 347,000 mortgage loans approved across the market in the period.
  • Savings balances at building societies increased by £4.3 billion, a 23% market share of the £19.0 billion across the market.
  • Savings balances outstanding at building societies now stand at £250.2 billion, an 18% market share of the total £1,365.4 billion across the market.
  • Gross mortgage lending by building societies was £17.7 billion, accounting for 28% of the £62.5 billion total mortgage lending in the UK during the period.
  • Net mortgage lending by building societies (gross lending minus repayments) was £6.1 billion, a 48% share of total net lending across the market of £12.7 billion.
  • This leaves building societies with outstanding mortgage balance of £272.3 billion at the end of March 2016, a 21% market share.