Taylor Scott International News
House purchase lending to home buyers increased slightly by 1% month on month in December but compared to December 2013, the number of loans fell by 5%, according to the latest CML data. However, the figures from the Council of Mortgage Lenders also show that first time buyers saw a month on month lending increase, up 3% on November, but still 3% down on December 2013. By value, £3.8 billion was advanced to first time buyers in December, 6% up on November but unchanged compared to December 2013 while the number of loans advanced to home movers was 29,500, the same as November but down 8% on December 2013. By value, lending to movers totalled £5.5 billion, up 2% on November but 2% down on December 2013. Remortgage lending activity also saw a decline with the number of remortgage loans 7% down on November and 13% down on December 2013. The value of these loans at £3.4 billion was down 6% on the previous month and down 11% on December the previous year. Buy to let loans totalled 17,300 in December, unchanged from November but up 18% compared to December 2013. The total value of these loans at £2.5 billion was up 4% month on month and up 32% compared to December 2013. On a quarterly basis home owner house purchase lending fell 5% and was down 3% compared to the fourth quarter of 2013. The value of these loans at £28.8 billion declined compared to the third quarter by 8% but was up 2% compared to the same period in 2013. First time buyers in the fourth quarter of 2014 saw minimal change compared to the previous quarter and the same quarter in 2013. There were 80,100 loans advanced to first time buyers in this period, down 2% on the third quarter and unchanged compared to the fourth quarter of 2013. The value of these loans totalled £11.6 billion, which was down 5% on the third quarter but 5% up on the fourth quarter of 2013. Home movers were advanced 93,100 loans in the fourth quarter, a decline of 8% compared to the third quarter and 5% down year on year. These loans totalled £17.2 billion in value, 10% down on the previous quarter, but unchanged compared to the fourth quarter of 2013. Remortgage lending declined this quarter with 73,100 loans advanced, down 3% on the third quarter and 13% down on the fourth quarter 2013. The value of these loans at £11.1 billion declined 4% quarter on quarter and 10% year on year compared to the fourth quarter 2013. Buy to let loans totalled 54,000 in the fourth quarter of 2014, up 4% on the previous quarter and up 16% on the same period in 2013. This totalled in value £7.7 billion, an increase of 5% on the third quarter and up 26% on the fourth quarter 2013. Overall for 2014, home owner house purchase totalled 676,900 loans, up 11% on… Taylor Scott International
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