FCA: Mortgage lending statistics - Q1 2024 - June 2024

The FCA and the Prudential Regulatory Authority (PRA) both have responsibility for the regulation of mortgage lenders and administrators. They jointly publish the mortgage lending statistics every quarter. Since the beginning of 2007, around 340 regulated mortgage lenders and administrators have been required to submit a Mortgage Lending and Administration Return (MLAR) each quarter, providing data on their mortgage lending activities. ##Latest findings * The outstanding value of all residential mortgage loans decreased by 0.1% from the previous quarter to £1,654.9 billion, and was 1.4% lower than a year earlier. * The value of gross mortgage advances decreased by 2.6% from the previous quarter to £51.6 billion, the lowest since 2020 Q2, and was 12.0% lower than a year earlier. * The value of new mortgage commitments (lending agreed to be advanced in the coming months) increased by 30.8% from the previous quarter to £60.1 billion, and was 31.2% greater than a year earlier.