The statistics cover both regulated and non-regulated residential lending - regulated refers to the use of the property by the borrower or close relative, non-regulated refers to buy to let, second charges or advances on the loan taken out before regulation came into play.
The FSA's published statistics show that new lending in Q4 2011 was 9% up from Q4 2010. It also shows that in the last quarter alone, the average interest rate has fallen to 3.49%. 1% of new lending comes from high Loan to Value and high income multiples. There were also 14% lower new arrears cases than Q4 2010, and 9% lower arrears cases compared to Q4 2010. With the number of repossessions falling this quarter as well, the lending activities are certainly encouraging for 2012.
The FSA's published statistics show that new lending in Q4 2011 was 9% up from Q4 2010. It also shows that in the last quarter alone, the average interest rate has fallen to 3.49%. 1% of new lending comes from high Loan to Value and high income multiples. There were also 14% lower new arrears cases than Q4 2010, and 9% lower arrears cases compared to Q4 2010. With the number of repossessions falling this quarter as well, the lending activities are certainly encouraging for 2012.
