Mortgage Trends Update – UK Finance

Mortgage Trends in January 2020

  • There were 30,620 new first-time buyer mortgages completed in November 2019, 10.5 per cent fewer than in the same month in 2018. There were 30,750 homemover mortgages completed in November 2019, 10.6 per cent fewer than in the same month a year earlier. This movement reflects particularly strong home-purchase activity in November 2018.
  • There were 18,610 new remortgages with additional borrowing in November 2019, 5.7 per cent more than in the same month in 2018. For these remortgages, the average additional amount borrowed in November was £51,470. There were 18,470 new pound-for-pound remortgages (with no additional borrowing) in November 2019, 12.4 per cent fewer than in November 2018.
  • There were 6,300 new buy-to-let home purchase mortgages completed in November 2019, 4.5 per cent fewer than this time last year. There were 15,000 remortgages in the buy-to-let sector, 5.1 per cent fewer than the same month in 2018.

 

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