2014年-FCA英国金融行为监管局_mlar_statistics_dec_2014_commentary_10页_259kb

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Mortgage Lenders and Administrators Statistics for 2014 Q3 Summary

Core Content Overview

This document presents the mortgage lending statistics for the third quarter of 2014, derived from the Mortgage Lenders & Administrators Return (MLAR). It covers residential loan amounts, new business volumes, lending characteristics, interest rate trends, and arrears and possessions data.

Total Residential Loan Amounts Outstanding

Total outstanding: £1,255.6 billion in Q3 2014, up 0.5% from Q2 2014 and 1.8% over the past four quarters.
Regulated loans: £992.2 billion (79% of total), a consistent proportion since Q4 2013.
Non-regulated loans: £263.4 billion, down 0.1% in Q3 2014.
Securitised loans: £94.1 billion, down 5.8% from Q3 2014, representing 7.5% of total, the lowest since 2007.
Unsecuritised loans: £1,161.6 billion, up 1.1% from Q2 2014.

New Business Volumes

Gross advances: £55.9 billion in Q3 2014, up 13% from Q3 2013 and the highest since Q3 2008.
Net advances: £11.0 billion in Q3 2014, up from £7.2 billion in Q3 2013, the highest since Q3 2008.
New commitments: £53.6 billion in Q3 2014, up slightly from £53.4 billion in Q2 2014, representing a 6.2% increase compared with Q3 2013.

Lending Characteristics

Fixed rate loans: 82.6% of gross advances in Q3 2014, the highest since 2007.
Variable rate loans: 17.4% of gross advances.
Loan to valuation (LTV):
- 4.3% of gross advances had an LTV over 90%.
- The proportion of gross advances with an LTV over 90% and income multiple over 3.5x (single income) or 2.75x (joint income) decreased to 3.1%.

Interest Rate Trends

Average interest rate on gross advances: 3.31%, up 5bps from Q2 2014.
Fixed rate average interest rate: 3.43%, up 8bps from Q2 2014.
Variable rate average interest rate: 2.79%, down 4bps from Q2 2014.
Average interest rate on total amounts outstanding: 3.28%, down 2bps from Q2 2014, the lowest since 2007.
Fixed rate balances outstanding: 39.3% of total, up 2.2 percentage points from Q2 2014.

Breakdown by Purpose of New Lending

House purchase: 71.8% of gross advances in Q3 2014, up 1.7 percentage points from Q2 2014.
First time buyers (FTBs): 21.7% of gross advances, down 0.4 percentage points from Q2 2014.
Buy to let (BTL): 14.3% of gross advances, up from 13.6% in Q2 2014.
Other lending (including lifetime and equity release mortgages): 3.0% of gross advances, down from 3.4% in Q2 2014.

Arrears and Possessions

New arrears cases: 24,146 in Q3 2014, down 2.5% from Q2 2014, the lowest since 2007.
New arrears amount: £44 million, down 3.7% from Q2 2014 and 20% from Q3 2013.
Total loan accounts in arrears: 230,192 in Q3 2014, down 4.3% from Q2 2014.
Arrears as % of total loan balances: 1.73%, the lowest since 2007.
Performance of arrears cases: 63.13%, down slightly from 63.15% in Q2 2014.
Possession cases: 5,157 in Q3 2014, down 10% from Q2 2014.
Possession sales: 5,821 in Q3 2014, down 5.9% from Q2 2014.
Stock of possession cases: 9,053 in Q3 2014, the lowest since 2007.
Arrears capitalised: £27 million on 7,024 accounts, broadly unchanged from Q2 2014.

Key Definitions and Notes

Regulated loans: Secured by a first charge on residential property, for the borrower or close relative.
Non-regulated loans: Includes buy-to-let, second charge, and further advances on pre-2004 mortgages.
Securitisation: Involves creating Loan Notes secured on a pool of loans and selling them to third-party investors.
Arrears: Defined as overdue payments of 1.5% or more of the loan balance.
Temporary concessions: Agreements to suspend or reduce payments.
Capitalisation: Agreements to capitalise arrears, which are still classified as arrears until performance criteria are met.

Data Collection and Reporting

MLAR data: Collected from around 300 regulated lenders and administrators.
Three prime measures:
- Gross advances: New loans to borrowers.
- Net advances: Gross advances minus repayments.
- New commitments: Agreements to advance in future.
Interest rate basis: Classified as fixed or variable, with margins defined over the Bank Rate.
Seasonal adjustment: Data are not seasonally adjusted.
Revisions: Previous figures may be restated due to data revisions by reporters.

Summary of Trends

Loan growth: Unsecuritised loans continued to grow, while securitised loans declined.
Fixed rate dominance: Fixed rate mortgages accounted for the majority of lending, with a rising trend in their proportion.
Interest rates: Overall average interest rate on gross advances rose, but the average rate on total amounts outstanding fell.
Arrears decline: Both the number and amount of arrears continued to decrease, reaching the lowest levels since 2007.
Possessions: The number of possession cases dropped, with the stock of unsold cases also at a historic low.

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