Data & Research
This week’s insight reproduces information produced by UK Finance, the collective voice for the banking and finance industry. They represent more than 250 firms across the industry and act to enhance competitiveness, support customers and facilitate innovation. Knowledge of Housing Finance is important for all housebuilders, agents, architects, renters, component manufacturers and indeed everyone concerned with the delivery of housing in the UK
Key data highlights for May 2019:
Gross mortgage lending across the residential market in May 2019 was £21.9 billion, some 0.4 per cent lower than the same month in 2018 (see chart 2).
The number of mortgages for home purchase approved by the main high street banks in May 2019 was 9.1 per cent higher than in the same month in 2018, and reached its highest level since June 2016.
Remortgage approvals were 3.7 per cent lower and approvals for other secured borrowing were 5.9 per cent higher than the same month a year earlier (see chart 3).
The £11.3 billion of credit card spending in May 2019 was 5.6 per cent higher than the same month in 2018 (see chart 4).
Repayments have remained in line with credit card spending, showing that consumers are managing their finances effectively overall.
Personal borrowing through loans in May 2019 was 9.3 per cent higher compared to the same month in 2018 (see chart 5).
Lending through overdrafts in May 2019 was 3.2 per cent lower compared to the same month in 2018 (see chart 6).
Deposits held in instant access accounts were 3.0 per cent higher than in the same month a year earlier (see chart 7).
Notes to Editors
1. For more information please call the UK Finance Press Office on 020 7416 6750 or e-mail [email protected] 2. UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.
3. Data in this update referred to as main high street banks reflects more than two-thirds of all UK lending and deposit activity provided by all banks and building societies and is indicative of household behaviour.
Data included in this update relate to business conducted with the banking groups of Barclays, Lloyds, HSBC, RBS, Santander UK, TSB and Virgin Money, other than for gross mortgage lending, see below.
Gross mortgage lending reflects the total value of newly advanced loans secured on dwellings by all mortgage lenders and is estimated for the latest month by UK Finance - earlier figures and other references to full market data (ie all banks and building societies) are sourced from the Bank of England but are not yet published for the latest month. Total consumer credit and non-card consumer credit growth rates have revised in March 2018 to show the estimated underlying growth in on-going business, after reflecting a group restructure of balance sheet allocation of personal lending.
Annual growth rates are adjusted to exclude the effects of population changes, write-offs and sales/purchases of loan books, to reflect underlying business trends where appropriate and are based on seasonally adjusted data, while all other data series are non-seasonally adjusted.
Total consumer credit and non-card consumer credit growth rates have revised in March 2018 to show the estimated underlying growth in on-going business, after reflecting a group restructure of balance sheet allocation of personal lending.
Year-on-year percentage changes compare the latest month's figure with the same month's figure in the previous year.
Extended data tables are available from our website www.ukfinance.org.uk/statistics/
For more information please call the UK Finance Press Office on 020 7416 6750 or e-mail [email protected]
As Design & Timber Engineers we recognise the importance of working closely with all other professionals engaged in a construction project from the earliest possible stage, including banks and others engaged in financing such projects.. Not only do we enjoy the challenges, we enjoy working with other professionals to produce both workable and attractive solutions. Specifying any system is an important step for engineers, architects and all who strive for improved, lower cost, more environmentally sustainable construction, but timber still seems to offer all the benefits with few of the disadvantages.
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DfMA at the forefront
As Off-Site construction matures into Design for Manufacture and Assembly (DfMA) it is clearly at the forefront as an enabler for such delivery. New homes will very soon be ‘Smart’ in numerous ways, including full incorporation of energy saving and TIoT (the internet of things) to deliver major components. This is something that ‘Off-Site’. DfMA (Design for Manufacture & Assembly) will need to seriously consider as the industry moves forward.
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