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Mortgage Lenders and Administrators Statistics - 2025 Q1

The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators.

Published on 10 June 2025

Key findings

The outstanding value of all residential mortgage loans increased by 1.2% from the previous quarter to £1,698.5 billion, and was 2.6% higher than a year earlier (Table A).¹
The value of gross mortgage advances increased by 12.8% from the previous quarter to £77.6 billion, the highest new advances since 2022 Q4, and was 50.4% higher than a year earlier (Table A and Chart 1).
The value of new mortgage commitments (lending agreed to be advanced in the coming months) decreased by 1.5% from the previous quarter to £68.2 billion, but remained 13.5% higher than a year earlier (Table A and Chart 1).
The share of gross mortgage advances with loan-to-value (LTV) ratios exceeding 90% increased by 0.4pp from the previous quarter to 6.7%, the highest share since 2008 Q2, and was 1.5pp higher than a year earlier (Chart 3).
The share of gross mortgage advances for house purchase for owner occupation increased by 2.6pp from the previous quarter to 66.3%, the highest share since 2021 Q2, and was 11.7pp higher than a year earlier. Of the 66.3% of advances for house purchases by owner occupiers, lending to first time buyers increased by 1.8pp from the previous quarter to 31.4%, the highest share since reporting began in 2007, and was 5.6pp higher than a year earlier. The share advanced to home movers increased by 0.8pp from the previous quarter to 34.9%, and was 6.1pp higher than a year earlier (Chart 5).
The share of gross advances for remortgages for owner occupation decreased by 2.2pp from the previous quarter to 21.3%, and was 10.5pp lower than a year earlier (Chart 5).
New arrears cases (as a proportion of total outstanding balances with arrears) decreased by 1.7pp from the previous quarter to 10.2%, and was 1.2pp lower than a year earlier.
The number of new possessions in 2025 Q1 increased by 12.3% from the previous quarter to 2,307, the highest since 2019 Q3, and was 10.0% higher than a year earlier.
The total stock of possessions increased by 7.2% from the previous quarter to 7,822, the highest since 2014 Q3, and was 29.7% higher than a year earlier.

Table A: Residential loans to individuals, flows and balances

Regulated and non-regulated mortgages *

£ billions

Not seasonally adjusted

	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
	2023			2024				2025
Flows
Gross advances	52.1	61.4	52.9	51.6	60.2	65.5	68.8	77.6
New commitments	59.5	49.2	46.0	60.1	66.9	66.0	69.3	68.2

Amounts outstanding	1,656.6	1,657.4	1,656.3	1,654.9	1,660.9	1,670.5	1,678.2	1,698.5

*This data covers regulated mortgage lending, and non-regulated mortgage lending by firms which undertake regulated mortgage lending or administration of regulated mortgages.

Graphical analysis:

The value of gross mortgage advances increased by 12.8% from the previous quarter to £77.6 billion, the highest new advances since 2022 Q4, and was 50.4% higher than a year earlier (Table A and Chart 1).²
The value of new mortgage commitments (lending agreed to be advanced in the coming months) decreased by 1.5% from the previous quarter to £68.2 billion, but remained 13.5% higher than a year earlier (Table A and Chart 1).³

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The share of gross mortgage advances with interest rates less than 2% above Bank Rate (including at or below Bank Rate) has stayed the same as the previous quarter at 96.4%, and was 0.3pp higher than a year earlier (Chart 2).⁴
The share of advances with interest rates between 2% and up to 3% above Bank Rate has stayed the same as the previous quarter at 1.7%, and was 0.1pp higher than a year earlier. The share of advances with interest rates 3% or more above Bank Rate has stayed broadly consistent from the previous quarter at 1.9%, and was 0.4pp lower than a year earlier.^5,6

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The share of gross mortgage advances with loan-to-value (LTV) ratios exceeding 90% increased by 0.4pp from the previous quarter to 6.7%, the highest since 2008 Q2, and was 1.5pp higher than a year earlier (Chart 3).⁷
Within this, the share of mortgages advanced with LTVs over 95% has stayed the same as the previous quarter at 0.3%. This was the same as a year earlier.⁸
The share of gross mortgage advances with loan-to-value (LTV) ratios exceeding 75% increased by 1.7pp from the previous quarter to 45.8%, the highest share since 2007 Q4, and was 7.8pp higher than a year earlier.⁹

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The proportion of lending to borrowers with a high loan to income (LTI) ratio decreased by 0.7pp from the previous quarter to 45.2%, but remained 5.5pp higher than a year earlier (Chart 4).¹⁰ Borrowers with high LTI are defined here as:
- Borrowers with single income who had a LTI ratio of 4 or above. This increased by 0.7pp from the previous quarter to 10.8%, and was 2.8pp higher than a year earlier.¹¹
- Borrowers with a joint income who had a LTI ratio of 3 or above. This decreased by 1.4pp from the previous quarter to 34.4%, but remained 2.7pp higher than a year earlier.¹²

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The share of gross mortgage advances for buy-to-let purposes decreased by 0.2pp from the previous quarter to 8.0%, and was 0.3pp lower than a year earlier (Chart 5). The share of advances to owner occupiers was 92.0%.^13,14
Of the 92.0% of advances for owner occupiers, the share of gross advances for remortgages for owner occupation decreased by 2.2pp from the previous quarter to 21.3%, and was 10.5pp lower than a year earlier. The share of gross mortgage advances for house purchase for owner occupation increased by 2.6pp from the previous quarter to 66.3%, the highest share since 2021 Q2, and was 11.7pp higher than a year earlier. Further advances and other mortgages (including lifetime mortgages) decreased by 0.3pp from the previous quarter to 4.4%, and was 0.9pp lower than a year earlier.^15,16,17
Of the 66.3% of advances for house purchases by owner occupiers, lending to first time buyers increased by 1.8pp from the previous quarter to 31.4%, the highest share since reporting began in 2007, and was 5.6pp higher than a year earlier. The share advanced to home movers increased by 0.8pp from the previous quarter to 34.9%, and was 6.1pp higher than a year earlier.^18,19

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New arrears cases (as a proportion of total outstanding balances with arrears) decreased by 1.7pp from the previous quarter to 10.2%, and was 1.2pp lower than a year earlier.²⁰ Arrears are defined as the borrower failing to make contractual payments where the balance owed is equivalent to at least 1.5% of the outstanding mortgage balance or where the property is in possession.
The value of outstanding mortgage balances with arrears decreased by 2.9% from the previous quarter to £21.5 billion, but remained 0.9% higher than a year earlier (Chart 6).²¹
Of the £21.5 billion of outstanding mortgage balances with arrears, non-regulated mortgages (including buy-to-let loans and other residential lending to individuals where the property is not for use by the borrower or qualifying dependents) decreased by 2.4% from the previous quarter to £4.7 billion, and was 4.7% lower than a year earlier (Chart 6).²²
The proportion of the total mortgage loan balances with arrears, relative to all outstanding mortgage balances, has stayed broadly consistent from the previous quarter at 1.3%. This was the same as a year earlier.²³
The number of new possessions in 2025 Q1 increased by 12.3% from the previous quarter to 2,307, the highest since 2019 Q3, and was 10.0% higher than a year earlier.²⁴
The total stock of possessions increased by 7.2% from the previous quarter to 7,822, the highest since 2014 Q3, and was 29.7% higher than a year earlier.²⁵

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Footnotes

Note on Chart 4: Gross advances by income multiple: The ‘Other’ category is used when the loan assessment is based, only partly or not at all, on one or more persons’ incomes. Further details can be found in the FCA Handbook.

¹ Table 1.11 sub table A row 9
² Table 1.21 sub table C row 1
³ Table 1.21 sub table C row 3
⁴ Table 1.22 sub table C row 3 (less than 2% above)
⁵ Table 1.22 sub table C row 4 (2.00% to 2.99% above)
⁶ Table 1.22 sub table C row 5 + row 6 (3% or more above)
⁷ Table 1.31 sub table C row 19 + row 20
⁸ Table 1.31 sub table C row 20
⁹ Calculated as 100% of all mortgages less those <= 75% LTV (Table 1.31 sub table C row 21 - row 17)
¹⁰ Table 1.31 sub table C row 5 + row 13
¹¹ Table 1.31 sub table C row 5
¹² Table 1.31 sub table C row 13
¹³ Table 1.33 sub table C row 4 (buy-to-let)
¹⁴ Calculated as 100% of all mortgages less those for buy-to-let purposes (100% - Table 1.33 sub table C row 4) (owner-occupation)
¹⁵ Table 1.33 sub table C row 6 (remortgage)
¹⁶ Table 1.33 sub table C row 2 + row 3 (house purchase owner occupation)
¹⁷ Table 1.33 sub table C row 5 + row 9 (further advance and other)
¹⁸ Table 1.33 sub table C row 2 (first-time buyers)
¹⁹ Table 1.33 sub table C row 3 (home movers)
²⁰ Table 1.7 sub table C row 4
²¹ Table 1.7 sub table C row 10
²² Table 1.7 sub table B row 10
²³ Table 1.7 sub table C row 11
²⁴ Table 1.7 sub table C row 29
²⁵ Table 1.7 sub table C row 31

Queries

If you have any comments or queries about this release please email mlar@bankofengland.co.uk.

Next release date: 9 September 2025

More information

Long run versions of the summary and detailed tables are now available in Excel format, for data going back to Q1 2007. These have been sourced from data published by the FSA on their archive pages prior to Q1 2013 and data published by the Bank of England from Q1 2013.

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