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Mortgage market review - December 2018

Market Data

Publication date:

04 December 2018

Last updated:

04 December 2018


Technical Connection

Mortgage market review for December 2018.


Mortgage lending up in October: UK Finance - Latest data from UK Finance shows that gross mortgage lending grew in October on both a yearly and monthly basis. In total, lending within the residential market reached £25.5bn in October, a growth rate of 5.6 per cent when measured annually.

First-time buyers would rather sell the family silver than use Government savings schemes to get on the property ladder - Almost two thirds of first-time buyers plan to sell one or more valuable items to get on the property ladder. A poll by The Nottingham Building Society found that 63% would sell high-priced assets such as jewellery to help buy their first home, with 14% expecting to raise more than half of the funds they need this way. The Bank of Mum and Dad is also still very much alive, with 81% of would-be first-time buyers expecting some of the funds to come from here.

More lending going to first time buyers, mortgage monitor suggests - First time buyers and existing home owners in the UK capitalised on low rates across the residential property lending market in October, the latest index report suggests.

What advisers need to know about Generation Rent and protection - Despite government efforts to reduce the attractiveness of buy-to-let (BTL) property and bolster first-time buyers, more people than ever are renting.

Mortgage market softens in all major categories - A report shows that FTB completions were down 4.5 per cent on an annual basis, consisting of 29,400 new completions in September as compared to 30,800 a year ago. However, the total value for both this September and last September is the same – £5bn.

Building societies take mortgage market share - The sector also approved 31% of all first-time buyer mortgages in Q3 – 30,000 – but first-time buyer numbers are flat compared to Q3 2017.

First-time buyers: is now the right time to get a mortgage? - Rising house prices and mortgage rate increases will mean first-time buyers in 2023 face paying £3,500 more on their home loans each year.


Poll: Millennials split on Help to Buy - Fresh fears that the government’s Help-to-Buy programme has failed to help its target millennial market have been underlined today, with a new poll suggesting that young adults were the most likely group to oppose the scheme.


Leeds launches discounted BTL range - The products are offered at a rate of 1.14 per cent for up to 60 per cent loan-to-value (LTV) and 1.34 per cent for 70 per cent LTV and are expected to appeal to existing landlords looking to remortgage to a better deal.

Barclays unveils rate cuts and new product details - Barclays has announced a series of rate reductions amid product changes and a new residential remortgage product launch, coming into effect from tomorrow, Tuesday 27 November.

TSB reduces mortgage rates by up to 0.35% - TSB has reduced interest rates by up to 0.35 per cent on mortgages for residential, home purchase and remortgage borrowers.

Nationwide pilots RIO mortgage product - Nationwide has announced the soft launch of a retirement interest-only mortgage product.


Millions of homeowners will still be paying off mortgage after retirement, research warns - A fifth of the UK’s homeowners will still be paying off their mortgage after they stop earning, according to startling new figures that reveal the legacy of interest-only loans and delayed first-time buying.

Nearly half of UK wants to see 100% mortgages: YouGov - Latest polling data from YouGov shows that 48 per cent of the UK population think re-introducing 100 per cent mortgages is a good idea.

How remortgaging could save you £4k per year - Failing to remortgage could see you paying interest rates similar to those offered on a high-cost loan from the likes of Wonga.

Supersized mortgages are back: Desperate homebuyers are being offered 'irresponsible' deals worth SIX times their salaries as borrowing soars to record levels – First-time buyers are saddling themselves with record levels of debt as banks launch super-sized mortgages for up to six times people’s salaries.

Second steppers: Getting onto the ladder easier than climbing up – Moving up to the second rung of the property ladder is proving harder than getting onto it in the first place. That’s according to many so-called ‘second steppers’ who also admitted they were changing major life plans, such as how many children they would have, as a consequence of the difficulties they faced in selling their house.


Housing Watch: Help to Buy cannot go on forever - The scheme has had an enormously positive impact on the housing market, but it is time for the new build sector to prepare for it ending.


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This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.