Value of residential mortgage loans up by 3.8% against 2021: BoE
The outstanding value of all residential mortgage loans at the end of 2022 Q2 reached £1,648.0bn - a 3.8% rise from a year earlier, according to the latest Mortgage Lenders and Administrators Statistics from the Bank of England.
The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators.
Figures released by the Bank of England show that gross mortgage advance values during Q2 in 2022 reached £77.9bn. This was £1.0 billion greater than the previous quarter, but 12.6% lower than in 2021 Q2.
The value of new mortgage commitments (lending agreed to be advanced in the coming months) in 2022 Q2 was 1.7% greater than the previous quarter but 2.6% less than a year earlier, at £83.9 billion.
The share of mortgages advanced in 2022 Q2 with loan to value ratios exceeding 90% was 4.5%, 2.4pp higher than a year earlier and the highest seen since 2020 Q2.
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