£40bn worth of mortgages in the pipeline, says FSA

Aaron Strutt Image

Lenders have agreed to advance £40bn worth of mortgages in the coming months, up 13% on the amount agreed in quarter 1, according to the Financial Services Authority latest mortgage lending data.

The statistics show that in quarter 2 2011, new commitments – the amount of new lending that lenders have agreed to advance in the coming months – totalled £40bn.

The proportion of lending for house purchase, which includes buy-to-let purchases, increased from 54% in quarter 1 to 59% in quarter 2, while the proportion of lending to first-time buyers rose from 14% in quarter 1 to 16% in quarter 2.

Gross advances for house purchase also increased in value terms, up by 22% on quarter 1's figure to reach £21.6bn.

Source: Mortgage Strategy

September 16, 2011

Get Started

Get started today

Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.

Google Reviews
Trustpilot
Book a Consultation Talk to an Expert
As seen in
Sunday Times Telegraph Financial Times BBC News The Express The Times