Vida FatemiFCA has published a webpage on mortgage lending statistics for Q3 2023. The data was collected by FCA from around 340 regulated mortgage lenders and administrators who are required to submit the Mortgage Lending and Administration Return each quarter on their mortgage lending activities.
The key findings from this data are:
- the outstanding value of all residential mortgage loans decreased by 0.1% from the previous quarter and was 0.8% lower than a year earlier;
- the value of gross mortgage advances increased by 18.6% from the previous quarter, the first increase since 2022 Q3, but remained 27.6% lower than a year earlier; and
- the value of new mortgage commitments decreased by 16.5% from the previous quarter and was 41.4% lower than a year earlier.