View more on these topics

Average purchase loans rise slightly in June: MAB

The average purchase loan size grew 1.8 per cent in the 12 months to June, according to the Mortgage Advice Bureau.

At £179,173, the average total represents a 1.3 per cent increase on May.

Average purchase loan LTVs also moved up slightly, having reached 71.4 per cent In June, a one basis point rise month-on-month and an increase from the 69.9 per cent recorded a year before.

Furthermore, the average purchase price increased, rising 1.1 per cent to £250,857. However, year-on-year this figure is down 0.3 per cent.

Looking at remortgages, the average loan price fell by 1.5 per cent to £174,389 on a monthly basis. Annually, this figure is also down, having fallen by 2.5 per cent.

Average remortgage LTVs remained broadly similar, increasing from 57.1 per cent in May, to 57.3 per cent in June, and up from the 56.5 per cent seen in June 2018.

The average remortgage property value dropped by 1.9 per cent to £304,172 on a monthly basis and fell 3.9 per cent year-on-year.

The figures show that the average buy-to-let purchase loan increased between May and June by 1.3 per cent to £125,882. Despite this monthly rise, annually this figure was down 3.9 per cent.

Mortgage Advice Bureau head of lending Brian Murphy says: “Many key indicators for home movers and first-time buyers remained either stable or only marginally changed when compared to the previous month, although some year-on-year figures saw slightly more noticeable movements, albeit these were very much in line with data from other sources.

“As has been the case for the past 12 months or more, the regionally diverse picture continued in June, with the East and West Midlands, Scotland, Wales, Yorkshire and the Humber and the North still seeing purchase loan sizes increased on the previous month.

“However, it is a slightly different picture inside the M25. Whilst many areas of London continue to appear to be suffering from ‘Brexit fatigue’.”



MAB and Charles Cameron launch employee mortgage advice

Mortgage Advice Bureau has teamed up with Charles Cameron & Associates to launch a workplace mortgage advice service that companies can offer employees as a staff benefit. Charles Cameron & Associates already delivers employee mortgage advice services to human resources and benefits teams, but the new partnership with MAB will help to extend its reach […]

MAB eyes bigger market share with £16.5m acquisition

Mortgage Advice Bureau has bought 80 per cent of Scotland-based mortgage broker First Mortgage Direct for £16.5m in cash, valuing the entirety of the business at £20.6m. As part of the deal, MAB has an option agreement with First Mortgage Direct managing director Ian McGrail to acquire the remaining 20 per cent of the business […]

Vida Homeloans announces new HTB products

Vida Homeloans has launched a number of Help to Buy mortgage products for purchase and remortgage. Notable products include an 80 per cent LTV two-year fix at 3.79 per cent. This deal is for purchase only, has free standard valuations, and a £200 contribution to legal fees. In addition, this offering has a maximum loan […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now