For April
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £1.0B pr. £0.8B (Mar), £1.5B (Feb), £1.1B (Jan),
£1.9B (Dec), £0.7B (Nov), £0.5B (Oct), £1.5B (Sep), -£0.7B (Aug), £3.2B (Jul),
£3.1B(Jun), £4.1B (May), £6.4B (Apr)

For March
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £0.8B, forecast £1.6B, pr. £1.5B (Feb), £1.1B (Jan),
£1.9B (Dec), £0.7B (Nov), £0.5B (Oct), £1.5B (Sep), -£0.7B (Aug), £3.2B (Jul),
£3.1B(Jun), £4.1B (May), £6.4B (Apr)

From the Release: "Within the total, the increase in net lending secured on dwellings (£0.8 billion) was lower than the February increase and below the previous six-month average (Table A).  The twelve-month growth rate fell further, by 0.4 percentage points to 2.0%. The three-month annualised growth rate fell by 0.4 percentage points to 1.0%. The number of loans approved for house purchase (39,230) was higher than in February and higher than the previous six-month average. Approvals for remortgaging (31,746) were higher than in February, but below the previous six-month average, and those for other purposes (30,002) were lower than in February and below the previous six-month average (Table B)."

For March
Provided by: British Bankers Association
Official Release: HTML PDF

Mortgage Lending: £3.7B, pr. £3.9B (Feb), £2.9B (Jan), £2.9B (Dec),
£2.9B (Nov), £3.3B (Oct), £3.6B (Sep), £2.1B (Aug), 4.3B (Jul), £4.3B (Jun)

From the Release: " All measures of the banks' mortgage lending in March were marginally weaker than in February. Overall consumer credit was little changed and personal deposits remained weak. Lending to non-financial companies fell by about £1.0 billion, largely reflecting the unwinding of takeover finance.

Approvals for house purchase fell slightly in March and were some 25% lower than in March 2008. Re-mortgaging approvals declined slightly as borrowers continued to revert to standard variable rates rather than moving to new fixed rate products."

For February
Provided by: Bank of England
Current Release: HTML PDF

Net Mortg. Lend.: £1.5B, forecast £0.9B, pr. £1.1B R (Jan), £1.9B (Dec),
£0.7B (Nov), £0.5B (Oct), £1.5B (Sep), -£0.7B (Aug), £3.2B (Jul), £3.1B(Jun),
£4.1B (May), £6.4B (Apr)

UK mortgage approvals rose to their highest level in nine months in February, showing the first significant sign of improvement in the housing market. There were 38K new mortgages approved - the most since May 2008 - and the figure was better than forecast. Mortgage lending rose to £1.5 billion from £1.1, and also came in above expectations. The same report, while showing improvement in mortgage lending, did show that consumer credit fell £245 million, far below expectations, and the lowest figure in the survey's 16-year history. 

For February
Provided by: British Bankers Association
Official Release: HTML PDF

Mortgage Lending: £3.9B, pr. £2.9B (Jan), £2.9B (Dec), £2.9B (Nov),
£3.3B (Oct), £3.6B (Sep), £2.1B (Aug), 4.3B (Jul), £4.3B (Jun)

UK mortgage lending showed signs of life in February, hitting a seven-month high, while mortgage approvals were the highest since April 2008. There were 28,179 new mortgages approved which is a strong indicators for housing market activity, which was a 10-month high. Of course levels are still far below those in 2008 prior to the credit crisis. Lending increased by £3.9 billion following an upwardly revised £3.4 increase in January. Overall, demand is still weak due to the recession.

For January
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £0.7B, forecast £1.5B, pr. £1.9B (Dec), £0.7B (Nov),
£0.5B (Oct), £1.5B (Sep), -£0.7B (Aug), £3.2B (Jul), £3.1B(Jun),
£4.1B (May), £6.4B (Apr)

The Bank of England showed that there were 31K mortgage approvals in January, levels consistent with December, though lower than forecasts. Mortgage lending, just like consumer cried, increased at a very weak pace of 700 million pounds, undercutting forecasts.  

For January
Provided by: British Bankers Association
Official Release: HTML PDF

Mortgage Lending: £2.9B pr. £2.9B (Dec), £2.9B (Nov), £3.3B (Oct),
£3.6B (Sep), £2.1B (Aug), 4.3B (Jul), £4.3B (Jun)

From the Release: "The high street banks' mortgage lending is still seeing double-digit annual growth, albeit in a much slower market. Lower borrowing costs and falling property prices have underpinned demand at these lenders, who are providing over two-thirds of all new mortgage lending. There is only limited demand from households for unsecured credit, while a fall in their deposits in January reflects a tendency to draw on cash or to move into alternative financial products.

"Lending to non-financial companies rose after two monthly falls, with modest increases in several industrial categories, while finance for other financial companies reversed the year-end fall in lending."

For December
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £1.9B, pr. £0.7B (Nov), £0.5B (Oct), £1.5B (Sep),
-£0.7B (Aug), £3.2B (Jul), £3.1B(Jun), £4.1B (May), £6.4B (Apr)

UK data on mortgage lending surprised forecasts on the upside, giving the Pound a boost in overnight trading. The number of mortgage approvals increased to 31K and the amount of lending secured on dwellings rose by 1.9 billion pounds, about triple expectations. The data gives those watching the UK housing market a small sigh of relief as it shows some improvement following months of deteriorating figures.

For December
Provided by: British Bankers Association
Official Release: PDF

Mortgage Lending: £2.9B, pr. £2.9B (Nov), £3.3B (Oct), £3.6B (Sep),
£2.1B (Aug), 4.3B (Jul), £4.3B (Jun)

From the Release: "This first opportunity to compare 2008 with 2007 shows that gross mortgage lending by the main high street banks totalled £170bn, some 23% below 2007’s total of £221bn. However, lending by the rest of the mortgage market was half the previous year’s total, showing how mortgage lending became much more concentrated during the year. The banks approved less than half the 2007 number of loans for house purchase, reflecting falling demand from households facing greater economic uncertainty and double-digit falls in house prices over the year which led to a wait-and-see mentality.

“Consumer credit was very weak in December as people reined in their credit card spending, despite early Sales and heavy discounting by retailers. This consumer caution was also reflected in personal deposits, which rose strongly."

For November
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £0.7B, pr. £0.5B (Oct), £1.5B (Sep), -£0.7B (Aug),
£3.2B (Jul), £3.1B(Jun), £4.1B (May), £6.4B (Apr)

UK mortgage approvals fell to the lowest level since at least 1999 in November, house prices fell by the most in a quarter-century last year, and banks are expected to continue limiting how much they lend in the new year. Lenders granted 27,000 loans for house purchases, about 4K lower than in the previous month. The figure was below expectations and continues to show the woes facing the UK housing sector. Not only are there fewer potential buyers as households see their wealth decline in the face of worsening economic conditions and a sharp slide in equities in 2008, but those that do want to buy a house are facing stiff requirements from banks which are reluctant to lend. 

From the Release: "The increase in net lending secured on dwellings (£0.7 billion) was higher than the October increase, but below the previous six-month average (Table A). The twelve-month growth rate slowed further, to 3.9%. The three-month annualised growth rate ticked up by 0.2 percentage points to 0.9%. The numbers of loans approved for house purchase (27,000), remortgaging (42,000) and for other purposes (32,000) were all lower than in October and lower than their previous six-month average, (Table B)."

For November
Provided by: British Bankers Association
Official Release: PDF

Mortgage Lending: £2.9B, pr. £3.3B (rev from £2.9B, Oct), £3.6B (Sep),
£2.1B (Aug), 4.3B (Jul), £4.3B (Jun)

From the Release: "In November, net mortgage lending rose by £2.9 billion; less than in October and below the average for the previous six months. The numbers of approvals for all types of mortgage lending were lower than October. Consumer credit remains subdued, rising by just £0.2bn, but personal deposits rose by £3.9bn as products offered by the high street banks attracted funds.

High street banks are still providing two-thirds of all new mortgage lending, although the overall market continues to shrink. The 1.5% November reduction in Bank Rate caused lenders to re-assess product ranges and borrowers to re-consider future borrowing costs, so consequently there was another drop in market activity. Volumes of mortgage approvals reached new lows and, with house prices still falling, the encouragement of lower costs had not filtered through by the month-end, largely because people remain concerned about the impacts of the rapidly slowing economy on their personal finances. There was an increase in deposits, in part reflecting the receipt of savings reclaimed from accounts in Icelandic banks.”"

For October
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £0.5B, forecast £1.1B, pr. £1.5B (rev from £2.2B, Sep),
-£0.7B (Aug),  £3.2B (Jul), £3.1B(Jun), £4.1B (May), £6.4B (Apr)

For October
Provided by: British Bankers Association
Official Release: PDF

Mortgage Lending: £2.9B, pr. £3.6B (Sep), £2.1B (Aug) £4.3B (Jul), £4.3B (Jun)

From the Release: "In October, net mortgage lending rose by £2.9 billion; less than in September and below the average for the previous six months. The number of approvals for house purchase remained low while those for other purposes were similar to September. Consumer credit was subdued, rising by just £0.3bn, and personal deposits were flat. 

“The high street banks provided almost £12bn, or two-thirds of all new mortgages, in October. They also increased lending to non-financial companies by £1.4bn and heavily supported financial intermediaries (at the time Government was announcing its financial support for the banking industry). That support, together with lower interest rates, will feed through to lending and yesterday’s Pre-Budget Report measures will help consumer demand. Comparison of current lending levels with last year is obscured by the very different economic conditions that exist now, reflecting a much reduced appetite for borrowing. Mortgage approvals remained low, consumer credit was subdued and people used their deposits to fund spending in October.”

For September
Provided by: Bank of England
Official Release: HTML PDF

Net Mortg. Lend.: £2.2B, forecast £0.7B, pr. -£0.7B (rev from £0.1B - Aug),
£3.2B (Jul), £3.1B(Jun), £4.1B (May), £6.4B (Apr)

Mortgage approvals in the UK remained near their record low for September, with only 33K new approvals, according to figures from the Bank of England. At the same time, consumer credit rose at the weakest pace since 1993. The recent bout of financial turmoil constrained lending even further, as this has been a symptom in the UK market for several months now. Lending did increase somewhat, as the efforts by the Bank of England try to unfreeze lending, especially when it comes to the housing market.

From the Release: "The numbers of loans approved for house purchase (33,000) and remortgaging (72,000) were higher than in August, but that for other purposes (37,000) was lower than in August."

For September
Provided by: British Bankers Association
Official Release: PDF 

Mortgage Lending: £3.6B pr. £2.1B (Aug) £4.3B (Jul), £4.3B (Jun)

From the Release: "In September, net mortgage lending rose by £3.6 billion; more than in August but below the average for the previous six months. The number of approvals for house purchase remained low but those for remortgaging were slightly higher. Consumer credit was subdued, rising by just £0.1bn, and personal deposit growth was stable.

BBA statistics director, David Dooks, said of the latest data: It was not surprising to see continued low levels of mortgage lending and approvals in September, ahead of the Government's banking support announcements. Compared to a year ago, the mortgage environment has changed significantly, with supply restricted as a consequence of the situation in financial markets and demand at a much reduced level. But in a mortgage market that is becoming more concentrated, the high street banks provide more than two-thirds of all new lending.

Pressure on household budgets, the slowing economy and fragile consumer confidence are suppressing consumer appetite for unsecured borrowing, but personal deposits across the high street banks held up.”"

For August
Provided by: Bank of England
Official Release: PDF

Mortgage approvals are at a series low of 32K, and the net mortgage lending subsequently is at its record low of GBP143 million: Signs that the bottom is falling wide open for the UK hosuing market.

From the Release: "Within the total, the increase in net lending secured on dwellings (£0.1 billion) was below the increase in July and the previous six-month average (Table A). The twelve-month growth rate slowed further, to 6.0%. The three-month annualised growth rate fell by 1.2 percentage points to 1.9%. The numbers of loans approved for house purchase (32,000), remortgaging (64,000) and for other purposes (39,000) were all lower than in July (Table B)."

Mortgage Lending: £4.3B, pr. £4.3B

The number of house purchase approvals leveled off in July after declining about 65% over the last year. David Dooks, Economic Director of BBA is not impressed however as he believes this would be too premature to be sign of a bottom for the housing market.

From the release: "The pressures on household budgets are reflected in the relatively weak rise in individuals' deposits and, with consumer borrowing growing only slowly it seems that consumers are acting prudently."