2014年-FCA英国金融行为监管局_mlar_statistics_june_2014_summary_6页_315kb

MLAR Statistics: June 2014 Edition Summary

Core Content Overview

This document provides statistical data on residential loans to individuals in the UK for the period June 2014, covering regulated and non-regulated loans. The data includes new business volumes, new business characteristics, loan book position, and arrears & provisions for both unsecuritised and securitised loans. The information is not seasonally adjusted and is sourced by the Bank of England and the FCA.

Main Tables and Descriptions

Table (1): Residential Loans to Individuals

Summary A: New Business Volumes

• Gross Advances: Increased from £39,397 million in Q4 2012 to £51,474 million in Q1 2014.
• Net Advances: Rose from £4,208 million in Q4 2012 to £8,997 million in Q1 2014.
• New Commitments: Grew from £36,885 million in Q4 2012 to £50,284 million in Q1 2014.

Summary B: New Business Characteristics

• Interest Rates:
  • Fixed Rate Loans: The percentage of business at fixed rates increased from 63.55% in Q4 2012 to 80.26% in Q1 2014.
  • Variable Rate Loans: The average interest rate decreased from 3.30% in Q4 2012 to 2.99% in Q1 2014.
  • All Loans: Overall weighted average interest rate dropped from 3.81% in Q4 2012 to 3.25% in Q1 2014.
• Purpose of Loan:
  • House Purchase: Remained the largest purpose, with a percentage of gross advances ranging from 63.04% to 68.24%.
  • First Time Buyers: Increased from 19.10% in Q4 2012 to 20.58% in Q1 2014.
  • Buy to Let: Fluctuated between 11.04% and 12.79%.
  • Other: Decreased from 35.91% to 34.87%.
• Further Advances and Remortgage:
  • Further Advances: Percentage of gross advances decreased from 2.83% to 2.54%.
  • Remortgage: Fluctuated between 26.48% and 29.44%.

Table (2): Residential Loans to Individuals

Summary C: Loan Balances Outstanding

• Unsecuritised Loans: Increased from £1,106,221 million in Q4 2012 to £1,131,904 million in Q1 2014.
• Securitised Loans: Declined from £122,444 million in Q4 2012 to £106,436 million in Q1 2014.
• Total Residential Loans: Rose from £1,228,665 million in Q4 2012 to £1,238,340 million in Q1 2014.

Loan to Value (LTV) and Income Multiple

• Under 75% LTV: Percentage of gross advances decreased from 66.26% in Q4 2012 to 64.60% in Q1 2014.
• 75%–90% LTV: Increased slightly from 31.65% to 33.25%.
• 90%–95% LTV: Fluctuated between 1.71% and 1.73%.
• Over 95% LTV: Decreased from 0.37% to 0.42%.
• Income Multiple:
  • Over 90%–95%: Increased from 1.03% to 1.19%.
  • Over 95%: Rose from 0.20% to 0.30%.
  • All Over 90%: Increased from 1.22% to 1.49%.

Credit History

• Loans with Impaired Credit History: Declined from 0.29% to 0.19%.
• Loans without Impaired Credit History: Increased from 99.71% to 99.81%.

Table (3): Residential Loans to Individuals

Summary D: Arrears & Provisions

• Number of Loan Accounts in Arrears: Decreased from 297,572 in Q4 2012 to 255,561 in Q1 2014.
• Balances Outstanding in Arrears: Reduced from £29,558 million to £24,822 million.
• Arrears as % of Total Loan Balances:
  • 1.5%–2.5% in Arrears: Decreased from 0.74% to 0.62%.
  • 2.5%–5% in Arrears: Slightly decreased from 0.79% to 0.65%.
  • 5%–7.5% in Arrears: Declined from 0.32% to 0.26%.
  • 7.5%–10% in Arrears: Decreased from 0.15% to 0.13%.
  • Over 10% in Arrears: Decreased from 0.24% to 0.22%.
  • First Time Buyers in Arrears: Reduced from 0.16% to 0.11%.

Possession Cases

• New Possessions in Qtr: Fluctuated between 6,137 and 8,092 units.
• Possessions Cases Sold in Qtr: Decreased from 9,447 to 6,650 units.
• Stock of Possessions at End of Qtr: Reduced from 13,321 to 10,154 units.
• Total Possession Cases: Decreased from 2.08% to 1.85% of total loan accounts.

Key Information

• The data is not seasonally adjusted and covers Regulated and Non-regulated residential loans.
• Fixed rate loans have seen a significant increase in percentage of new business over the period.
• Interest rates for both fixed and variable rate loans have generally declined from 2012 to 2014.
• House purchase remains the dominant purpose of new loans.
• Arrears have decreased in both percentage and absolute terms.
• Possession cases have also declined, though the methodology differs from CML reporting.
• The number of loan accounts is materially higher than CML mortgage counts due to the inclusion of 2nd and subsequent charge loans and further advances.

Methodology Notes

• Number of Loan Accounts: Includes all individual loan accounts, including regulated and non-regulated loans, and is higher than CML figures due to separate reporting categories.
• Arrears Reporting: Based on loan accounts with arrears of 1.5% or more, which is a broader threshold than CML’s borrower-based measure.
• Possession Cases: Reflects loan accounts in possession, not borrowers, and is higher than CML estimates due to separate reporting for 1st and 2nd charge loans.

Conclusion

The June 2014 edition of MLAR statistics highlights a steady increase in new business volumes, a rise in fixed rate loan proportions, and a decline in arrears and possession cases. The data reflects broader lending trends, including lower interest rates and more lending to first-time buyers. However, the methodology used in reporting differs significantly from CML standards, resulting in higher figures for loan accounts, arrears, and possession cases.