The total value of outstanding loans in the final quarter of 2010 was unchanged from the previous quarter at £1,213 billion, according to the FSA’s latest Mortgage Lending Data for the United Kingdom.
New advances in the quarter totalled £37 billion, 10% lower than in Q3 and 11% down on the amount advanced in Q4 2009. New commitments totalled £35 billion, 9% down on last quarter and also down on Q4 last year.
Lending for house purchase represented a smaller share of new lending this quarter, accounting for some 61% of new advances and 55% of new commitments.
The proportion of new lending done at an LTV of more than 90% remained unchanged for the third quarter in succession, accounting for just over 2% of new advances.
New lending with a combination of high LTVs and high income multiples again accounted for just over 1% of new lending as it did in the previous two quarters. The proportion of loans to borrowers with an impaired credit history was 0.3%, as it has been since Q3 2009.
