FSA releases mortgage lending data

Date:Tuesday 17th March 2009
Author: Max Freedman

The Financial Services Authority (FSA) has published data concerning the amount of mortgage lending at the end of last year.

According to the organisation, there was an increase in the total value of outstanding home loans of 3.5 per cent during the fourth quarter of last year compared with the same time in 2007.

The value of outstanding mortgages over the period was identified as £1,200 billion.

Meanwhile, new lending fell to £45 billion over the last three months of 2008. This compared with £102 billion in the third quarter of 2007, which was the peak of the market.

The FSA added that at the end of last year, there were 377,000 loan accounts in arrears - an increase of ten per cent over the previous quarter and 31 per cent above the figures from the final quarter of 2007.

Statistics produced recently by the Council of Mortgage Lenders suggested that 23,400 mortgages were agreed in January this year.