UK Finance's Mortgage Trends Update for
November 2018 reveals:
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There were 36,200 new first-time buyer
mortgages completed in the month, some 5.8 per cent more than
in the same month a year earlier. The £6.0bn of new
lending in the month was 9.1 per cent more year-on-year.
The average first-time buyer is 30 and has a gross household
income of £42,000.
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There were 36,200 new homemover mortgages
completed in the month, some 1.1 per cent more than in the same
month a year earlier. The £7.8bn of new lending in the
month was 4 per cent more year-on-year. The average
homemover is 39 and has a gross household income of
£55,000.
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There were 39,600 new homeowner remortgages
completed in the month, some 1.3 per cent more than in the same
month a year earlier. The £6.8bn of remortgaging in the
month was the same
year-on-year.
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There were 6,100 new buy-to-let home purchase
mortgages completed in the month, some 9 per cent fewer than in
the same month a year earlier. By value this was £0.8bn
of lending in the month, 11.1 per cent down
year-on-year.
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There were 15,000 new buy-to-let remortgages
completed in the month, some 9.5 per cent more than in the same
month a year earlier. By value this was £2.4bn of lending
in the month, 9.1 per cent more year-on-year.
Commenting on the data, Jackie Bennett,
Director of Mortgages at UK Finance said:
"A mixture of competitive deals and schemes including Help to Buy
saw even more first-time buyers get a foot on the housing ladder
during November.
"Meanwhile, homeowner remortgaging activity has
steadied, after reaching its highest level in a decade the
previous month as a large number of fixed-rate deals came to an
end.
"In the buy-to-let market new home purchases
remain subdued, while remortgaging continues to grow as landlords
lock into attractive rates."
