UK Finance’s Mortgage Trends update for Quarter 2 2018 overview:

  • There were 15,200 new homeowner remortgages in London completed in the second quarter, some 16.9 per cent more than in the same quarter a year earlier. The £4.84bn of remortgaging in the second quarter was 23.2 per cent more year-on-year.
  • There were 6,800 new homemover mortgages completed in London in the second quarter of 2018, some 8.1 per cent fewer than in the same quarter of 2017. The £2.77bn of new lending in the quarter was 8.6 per cent down year-on-year.  The average homemover in the capital is 37 and has a gross household income of £92,000.
  • There were 10,300 new first-time buyer mortgages completed in London in the second quarter of 2018, some 3.7 per cent fewer than in the same quarter of 2017. The £3.04bn of new lending was 1.9 per cent down year-on-year. The average first-time buyer in the capital is 32 and has a gross household income of £68,000.
  • There were 8,100 new Scottish homeowner remortgages completed in the second quarter, some 9.5 per cent more than in the same quarter a year earlier. The £1.01bn of remortgaging in the second quarter was 11 per cent more year-on-year.
  • There were 9,200 new homemover mortgages completed in Scotland in the second quarter of 2018, some 2.1 per cent fewer than in the same quarter of 2017. The £1.46bn of new lending in the quarter was the same year-on-year. The average Scottish homemover is 39 and has a gross household income of £52,000.
  • There were 9,300 new first-time buyer mortgages completed in Scotland in the second quarter of 2018, some 3.1 per cent fewer than in the same quarter of 2017. The £1.1bn of new lending was 2.8 per cent more year-on-year. The average Scottish first-time buyer is 29 and has a gross household income of £35,000.
  • There were 4,800 new Welsh homeowner remortgages completed in the second quarter, some 17.1 per cent more than in the same quarter a year earlier. The £0.57bn of remortgaging in the second quarter was 18.8 per cent more year-on-year.
  • There were 3,800 new homemover mortgages completed in Wales in the second quarter of 2018, some 2.6 per cent fewer than in the same quarter of 2017. The £0.57bn of new lending in the quarter was 1.7 per cent down year-on-year.  The average Welsh homemover is 39 and has a gross household income of £47,000.
  • There were 4,100 new first-time buyer mortgages completed in Wales in the second quarter of 2018, some 2.4 per cent fewer than in the same quarter of 2017. The £0.48bn of new lending was 2 per cent down year-on-year. The average Welsh first-time buyer is 29 and has a gross household income of £35,000.
  • There were 2,700 new first-time buyer mortgages completed in Northern Ireland in the second quarter of 2018, some 12.5 per cent more than in the same quarter of 2017 and the highest quarterly level since 2005. The £0.28bn of new lending was 16.7 per cent more year-on-year. The average Northern Ireland first-time buyer is 30 and has a gross household income of £33,000.
  • There were 1,600 new homemover mortgages completed in Northern Ireland in the second quarter of 2018, some 6.7 per cent more than in the same quarter of 2017. The £0.21bn of new lending in the quarter was 10.5 per cent more year-on-year.  The average Northern Ireland homemover is 39 and has a gross household income of £46,000.
  • There were 2,300 new homeowner remortgages in Northern Ireland completed in the second quarter, some 9.5 per cent more than in the same quarter a year earlier. The £0.25bn of remortgaging in the second quarter was 13.6 per cent more year-on-year.