New CML data on the characteristics of lending in Wales in the fourth quarter of 2014 show it remains largely consistent with the previous two quarters of lending.
In the fourth quarter of 2014, first-time buyers in Wales borrowed £330m to purchase a house representing 3,200 loans. This was unchanged compared to the third quarter in value but up 3% in number of loans. Compared to the fourth quarter of 2013, total number of loans was unchanged but the amount borrowed increased by 3%.
The number of home movers loans declined quarter-on-quarter to 3,700, valued at £500m, which was down 3% in volume and down 2% in value compared to the third quarter. Compared to the fourth quarter of 2013, there was a decrease of 8% in volume and down 2% in value.
Remortgage lending increased quarter-on-quarter in the fourth quarter to 3,200 loans (£330m), which was up 3% in volume but unchanged in value on the third quarter. Compared to the fourth quarter of 2013, activity was down 16% in volume and 13% in value.
In 2014 as a whole Wales accounted for 2.8% of the UK-wide house purchase activity, down from 2.9% in 2013.
First-time buyers in Wales were advanced 12,100 loans reflecting £1.3bn by value. This was 14% up in volume compared to 2013, and 20% up in value.
Home movers in Wales were advanced 14,000 loans, which was up 4% on 2013. These loans were worth £1.8bn, which was up 11%.
Remortgage lending in Wales came an annual amount of 12,800 loans totalling £1.3bn. This was 13% down in volume compared to 2013, and 7% down in value.
Home-owner house purchase in Wales in the final quarter of 2014 was 6,900 loans, which was unchanged compared to the third quarter but 4% down compared to the fourth quarter of 2013. These loans by value was £830m, down 1% compared to the previous quarter and the fourth quarter 2013.
Overall in 2014, the total number of loans advanced for home-owner house purchase was 26,200, which was up 9% compared to 2013. These loans totalled £3.1bn, an increase of 15% compared to 2013.
