The total monthly number of mortgage approvals for the purpose of a house sale in the UK plummeted in 2020 during the COVID-10 pandemic, followed by a spike in the second half of the year. In 2021, interest rates started to rise, resulting in a decline in the volume of mortgage approvals declined. In 2024, mortgage approvals for home purchases started to increase, while remortgage approvals continued to fluctuate. Being approved for a mortgage is one of the first steps in purchasing a home, which makes it an early indicator of the development of transaction volumes. However, a mortgage approval does not necessarily mean that a sale is going to take place, as home buyers need to undergo several other steps to complete the sale: conveyancing, or the process of transferring the legal title of the property from the seller to the buyer, a property survey, contracts exchange, and closing.

Following the COVID-19 pandemic in 2020, the number of residential mortgage approvals in the UK plummeted. As the measures eased, the market rebounded, peaking at 157,000 mortgage approvals in November 2020. In 2022 and 2023, mortgage lending declined again as a response to the rising mortgage interest rates and the cooling of the housing market. In September 2024, the number of mortgage approvals exceeded 106,000 - up from about 70,500 in the same month a year ago. The increase indicated a rise in mortgage demand and an improvement in consumer sentiment.

The monthly number of approvals for remortgaging loans to individuals in the UK increased between 2012 and 2020, before plummeting due to the COVID-19 pandemic. In the second half of 2021, remortgaging activity headed for recovery and in October 2022, there were about 50,000 approvals. However, as mortgage interest rates soared, remortgaging fell dramatically, reaching a record low of about 20,000 approvals in October 2023. House purchase mortgage approvals followed a similar trend.

As a result of the coronavirus (COVID-19) pandemic, the number of residential mortgage approvals in the United Kingdom (UK) plummeted in the second quarter of 2020. With the easing of the measures, the market quickly headed for recovery. Nevertheless, the total number of mortgage approvals in 2020 remained below the five-year average.

The number of monthly mortgage approvals for home purchase in the United Kingdom (UK) peaked at nearly 108,000 approvals in November 2020, after falling to record low levels at the beginning of the coronavirus pandemic in the second quarter of the year. The spike was due to the easing of the first lockdown and a rise in the demand for housing. In 2022, the housing market started to cool, resulting in a falling number of mortgage approvals. In August 2024, there were 65,647 mortgage approvals. Remortgaging approvals followed a similar trend.

In the last three years, the highest number of mortgage approvals by building societies in the UK took place in March 2021 at over 46,000. In March 2020, the number of mortgage approvals amounted to approximately 36,000. The highest value of building societies residential mortgage loans during that period was also recorded in March 2021. Building societies, unlike banks are not listed on the stock market and thus, don't have external shareholders. Instead, the "owners" and decision makers in building societies are mortgage borrowers, savers and current account holders. Building societies offer many traditional banking products and financial services such as mortgage lending, savings and current accounts.

Boliglånsgodkendelser i Storbritannien steg til 66,53 tusind i december fra 66,06 tusind i november 2024. Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Forenede Kongerige - Mortgage Godkendelser.

The value of approvals issued for house purchase lending in the UK plummeted at the beginning of the COVID-19 pandemic, reaching a record-low of 1.9 billion British pounds in May 2020. In the second half of the year, the release of pent-up demand led to the value of approvals spiking at close to 22 billion British pounds in December 2020. With mortgage rates increasing in response to stubborn inflation, the value of mortgage approvals saw a substantial decrease in 2022 and an uptick in 2023. Remortgage approvals followed a similar trend.

The value of mortgage approvals in the UK started to increase in the final quarter of 2023, reaching 22.7 billion British pounds in September 2024. In recent years, the market has undergone significant fluctuations, including a dramatic decline in May 2020 because of the COVID-19 pandemic and two notable drops in 2023, attributable to the aggressive mortgage interest rate hikes and worsening economic conditions.

The value of buy-to-let (BTL) mortgage loans for property remortgaging in the UK was forecast to continue to increase in 2025, after plummeting in 2023. In 2023, buy-to-let mortgages originated for a property purchase amounted to nine billion British pounds, while remortgage originations totaled 11 billion British pounds. By 2026, mortgage lending for purchases was forecast to remain stable, while remortgage lending was expected to rise to 28 billion British pounds.

Abstract copyright UK Data Service and data collection copyright owner.A series of surveys were carried out to provide factual and detailed information on the performance of 6 local authorities in council house allocation, improvement grants, council mortgages and council house sales. The information was intended to support inter-authority comparisons, and to check on variability of policy and practice. The emphasis was on the extent to which housing need was being met and housing opportunities created. Main Topics: Attitudinal/Behavioural Questions (SN: 205) This dataset records information collected from the West Bromwich Waiting List. Type of list, length of application, applicant's marital and family situation, whether baby expected at application data, 'points' (total and detailed breakdown, e.g. size of family points, shared accommodation points). Period of residence/employment in West Bromwich County Borough, tenure, household size and type, bedrooms for applicant's family, use of separate living room, whether family separated by accommodation (length of time), other persons in dwelling, amenities, any personal disabilities, cleanliness. Type of dwelling recommended/allocated, number of bedrooms needed, area, offers made, rent/floor area allocated, rateable value allowed, age/grade choice and allocation, category of tenant, origin of letting, present location, location allocated, comparison of density of occupation (present and previous). Background Variables (SN: 205) Age, sex, ethnic origin, household status, place of residence, number of children less than/over 16 years of age, number under 5 years of age. Attitudinal/Behavioural Questions (SN: 263, 268, 271, 274, 277 and 280) Type of list, type of house, tenure, number of bedrooms, whether living room shared, other persons in house, standard of decorations. Type of house wanted, reasons for application, offers made, rent record. Expectant mother at application, medical claims 'points'. Required: type of dwelling, number of bedrooms, garage or car space. Location, age and grade of house (chosen and allocated). Present, chosen and allocated density of occupation. Floor space allocated. Background Variables (SN: 263, 268, 271, 274, 277 and 280) Age, marital status, place of birth, children 16 and under/5 and under, household size and type, length of residence at present address and in UK. Attitudinal/Behavioural Questions (SN: 264) Length of residence, whether on council waiting list, owner occupier, whether other property owned, present rent, rent willing to pay, general condition of property, cleanliness, rent record, medical problems, offers made, type of dwelling allocated, rent allocated, rateable value allocated, category of tenant, origin of letting, present, chosen and allocated location, age and grade of house, density of occupation allocated. Background Variables (SN: 264) Age, children 15 and under/5 and under, household type and size, number in employment, total income, car ownership. Attitudinal/Behavioural Questions (SN: 265) Size and age of house, mortgage intention, market price, sale price, % discount, market price above construction cost, length of tenancy, reasons for withdrawal, rent record, previous tenure, family size on application, whether still at same address, density of occupation, grade of estate, car parking facilities. Background Variables (SN: 265) Age, children 15 and 5 and under, household type. Attitudinal/Behavioural Questions (SN: 266) Term of loan sought, reference satisfactory, income satisfactory, price, loan sought, valuation, advance approved, balance of annual repayments, valuation as % price, loan granted as % price, loan approved as % valuation, loan approved as % price, time taken for approval, whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, notices to repair outstanding, type of property, number of bedrooms, garden, garage, hot water system, age of buildings, annual basic earnings, overtime, total earnings, total household income, annual repayment as % applicant's annual earnings, annual repayments as % household annual earnings, mortgage held. Background Variables (SN: 266) Age, place of birth, family size, social class. Variables (SN: 267, 270, 273, 276 and 279) Type of grant, nature of work, cost approved, maximum grant, age of property, tenure, mortgage, cost of improvement, cost of repairs as % approved costs, grant as % total costs, total cost of work, grant approved, date of application, time taken from application to approval, time taken from approval to completion, time taken from application to completion, area, house type. Attitudinal/Behavioural Questions (SN: 269, 272, 275, 278 and 281) Period of loan sought, income status, period of loan granted, category of tenant, price, loan applied for, valuation, advance given, balance, annual repayments, valuation as % price, loan granted as % loan sought, loan as % price, loan as % valuation, time taken from application to approval. Length of tenancy, rate of interest, earnings, overtime, other earnings, total applicant's earnings, total household income, previous rent, repayments as % previous rent. Whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, repairs required, type of house, garden, garage, hot water system, central heating, number of bedrooms, age of property, mortgage, area, grade of estate, previous tenure, density of occupation. Background Variables (SN: 269, 272, 275, 278 and 281) Age, social class, children 16 and under/5 and under, household type and size.

Abstract copyright UK Data Service and data collection copyright owner.A series of surveys were carried out to provide factual and detailed information on the performance of 6 local authorities in council house allocation, improvement grants, council mortgages and council house sales. The information was intended to support inter-authority comparisons, and to check on variability of policy and practice. The emphasis was on the extent to which housing need was being met and housing opportunities created. Main Topics: Attitudinal/Behavioural Questions (SN: 205) This dataset records information collected from the West Bromwich Waiting List. Type of list, length of application, applicant's marital and family situation, whether baby expected at application data, 'points' (total and detailed breakdown, e.g. size of family points, shared accommodation points). Period of residence/employment in West Bromwich County Borough, tenure, household size and type, bedrooms for applicant's family, use of separate living room, whether family separated by accommodation (length of time), other persons in dwelling, amenities, any personal disabilities, cleanliness. Type of dwelling recommended/allocated, number of bedrooms needed, area, offers made, rent/floor area allocated, rateable value allowed, age/grade choice and allocation, category of tenant, origin of letting, present location, location allocated, comparison of density of occupation (present and previous). Background Variables (SN: 205) Age, sex, ethnic origin, household status, place of residence, number of children less than/over 16 years of age, number under 5 years of age. Attitudinal/Behavioural Questions (SN: 263, 268, 271, 274, 277 and 280) Type of list, type of house, tenure, number of bedrooms, whether living room shared, other persons in house, standard of decorations. Type of house wanted, reasons for application, offers made, rent record. Expectant mother at application, medical claims 'points'. Required: type of dwelling, number of bedrooms, garage or car space. Location, age and grade of house (chosen and allocated). Present, chosen and allocated density of occupation. Floor space allocated. Background Variables (SN: 263, 268, 271, 274, 277 and 280) Age, marital status, place of birth, children 16 and under/5 and under, household size and type, length of residence at present address and in UK. Attitudinal/Behavioural Questions (SN: 264) Length of residence, whether on council waiting list, owner occupier, whether other property owned, present rent, rent willing to pay, general condition of property, cleanliness, rent record, medical problems, offers made, type of dwelling allocated, rent allocated, rateable value allocated, category of tenant, origin of letting, present, chosen and allocated location, age and grade of house, density of occupation allocated. Background Variables (SN: 264) Age, children 15 and under/5 and under, household type and size, number in employment, total income, car ownership. Attitudinal/Behavioural Questions (SN: 265) Size and age of house, mortgage intention, market price, sale price, % discount, market price above construction cost, length of tenancy, reasons for withdrawal, rent record, previous tenure, family size on application, whether still at same address, density of occupation, grade of estate, car parking facilities. Background Variables (SN: 265) Age, children 15 and 5 and under, household type. Attitudinal/Behavioural Questions (SN: 266) Term of loan sought, reference satisfactory, income satisfactory, price, loan sought, valuation, advance approved, balance of annual repayments, valuation as % price, loan granted as % price, loan approved as % valuation, loan approved as % price, time taken for approval, whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, notices to repair outstanding, type of property, number of bedrooms, garden, garage, hot water system, age of buildings, annual basic earnings, overtime, total earnings, total household income, annual repayment as % applicant's annual earnings, annual repayments as % household annual earnings, mortgage held. Background Variables (SN: 266) Age, place of birth, family size, social class. Variables (SN: 267, 270, 273, 276 and 279) Type of grant, nature of work, cost approved, maximum grant, age of property, tenure, mortgage, cost of improvement, cost of repairs as % approved costs, grant as % total costs, total cost of work, grant approved, date of application, time taken from application to approval, time taken from approval to completion, time taken from application to completion, area, house type. Attitudinal/Behavioural Questions (SN: 269, 272, 275, 278 and 281) Period of loan sought, income status, period of loan granted, category of tenant, price, loan applied for, valuation, advance given, balance, annual repayments, valuation as % price, loan granted as % loan sought, loan as % price, loan as % valuation, time taken from application to approval. Length of tenancy, rate of interest, earnings, overtime, other earnings, total applicant's earnings, total household income, previous rent, repayments as % previous rent. Whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, repairs required, type of house, garden, garage, hot water system, central heating, number of bedrooms, age of property, mortgage, area, grade of estate, previous tenure, density of occupation. Background Variables (SN: 269, 272, 275, 278 and 281) Age, social class, children 16 and under/5 and under, household type and size.

Housing affordability in the UK has worsened notably since 2020, with the share of income spent on mortgage rising for first-time and repeat buyers. In 2023, homebuyers spent, on average, 20.6 percent of their income on mortgage payments, 4.4 percentage points higher than in 2020. This increase was higher for first-time buyers than for repeat buyers. House prices have soared since the COVID-19 pandemic, followed by a dramatic increase in interest rates. As fewer people can afford to buy a home, the number of mortgage approvals for house purchase has dropped.

Abstract copyright UK Data Service and data collection copyright owner.A series of surveys were carried out to provide factual and detailed information on the performance of 6 local authorities in council house allocation, improvement grants, council mortgages and council house sales. The information was intended to support inter-authority comparisons, and to check on variability of policy and practice. The emphasis was on the extent to which housing need was being met and housing opportunities created. Main Topics: Attitudinal/Behavioural Questions (SN: 205) This dataset records information collected from the West Bromwich Waiting List. Type of list, length of application, applicant's marital and family situation, whether baby expected at application data, 'points' (total and detailed breakdown, e.g. size of family points, shared accommodation points). Period of residence/employment in West Bromwich County Borough, tenure, household size and type, bedrooms for applicant's family, use of separate living room, whether family separated by accommodation (length of time), other persons in dwelling, amenities, any personal disabilities, cleanliness. Type of dwelling recommended/allocated, number of bedrooms needed, area, offers made, rent/floor area allocated, rateable value allowed, age/grade choice and allocation, category of tenant, origin of letting, present location, location allocated, comparison of density of occupation (present and previous). Background Variables (SN: 205) Age, sex, ethnic origin, household status, place of residence, number of children less than/over 16 years of age, number under 5 years of age. Attitudinal/Behavioural Questions (SN: 263, 268, 271, 274, 277 and 280) Type of list, type of house, tenure, number of bedrooms, whether living room shared, other persons in house, standard of decorations. Type of house wanted, reasons for application, offers made, rent record. Expectant mother at application, medical claims 'points'. Required: type of dwelling, number of bedrooms, garage or car space. Location, age and grade of house (chosen and allocated). Present, chosen and allocated density of occupation. Floor space allocated. Background Variables (SN: 263, 268, 271, 274, 277 and 280) Age, marital status, place of birth, children 16 and under/5 and under, household size and type, length of residence at present address and in UK. Attitudinal/Behavioural Questions (SN: 264) Length of residence, whether on council waiting list, owner occupier, whether other property owned, present rent, rent willing to pay, general condition of property, cleanliness, rent record, medical problems, offers made, type of dwelling allocated, rent allocated, rateable value allocated, category of tenant, origin of letting, present, chosen and allocated location, age and grade of house, density of occupation allocated. Background Variables (SN: 264) Age, children 15 and under/5 and under, household type and size, number in employment, total income, car ownership. Attitudinal/Behavioural Questions (SN: 265) Size and age of house, mortgage intention, market price, sale price, % discount, market price above construction cost, length of tenancy, reasons for withdrawal, rent record, previous tenure, family size on application, whether still at same address, density of occupation, grade of estate, car parking facilities. Background Variables (SN: 265) Age, children 15 and 5 and under, household type. Attitudinal/Behavioural Questions (SN: 266) Term of loan sought, reference satisfactory, income satisfactory, price, loan sought, valuation, advance approved, balance of annual repayments, valuation as % price, loan granted as % price, loan approved as % valuation, loan approved as % price, time taken for approval, whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, notices to repair outstanding, type of property, number of bedrooms, garden, garage, hot water system, age of buildings, annual basic earnings, overtime, total earnings, total household income, annual repayment as % applicant's annual earnings, annual repayments as % household annual earnings, mortgage held. Background Variables (SN: 266) Age, place of birth, family size, social class. Variables (SN: 267, 270, 273, 276 and 279) Type of grant, nature of work, cost approved, maximum grant, age of property, tenure, mortgage, cost of improvement, cost of repairs as % approved costs, grant as % total costs, total cost of work, grant approved, date of application, time taken from application to approval, time taken from approval to completion, time taken from application to completion, area, house type. Attitudinal/Behavioural Questions (SN: 269, 272, 275, 278 and 281) Period of loan sought, income status, period of loan granted, category of tenant, price, loan applied for, valuation, advance given, balance, annual repayments, valuation as % price, loan granted as % loan sought, loan as % price, loan as % valuation, time taken from application to approval. Length of tenancy, rate of interest, earnings, overtime, other earnings, total applicant's earnings, total household income, previous rent, repayments as % previous rent. Whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, repairs required, type of house, garden, garage, hot water system, central heating, number of bedrooms, age of property, mortgage, area, grade of estate, previous tenure, density of occupation. Background Variables (SN: 269, 272, 275, 278 and 281) Age, social class, children 16 and under/5 and under, household type and size.

The gross monthly mortgage lending of building societies in the UK between 2017 and 2023 ranged from three billion British pounds and 10 billion British pounds. In September 2023, the value of gross lending stood at nearly 5.2 billion British pounds - a decline of more than 1.3 billion British pounds from the same month in 2022. The fluctuation in lending can also be seen in the number of mortgage loan approvals.Building societies, unlike banks, are not listed on the stock market and thus, don't have external shareholders. Instead, the "owners" and decision makers of building societies are mortgage borrowers, savers and current account holders. Building societies offer many traditional banking products and financial services such as mortgage lending, savings and current accounts.

Abstract copyright UK Data Service and data collection copyright owner.A series of surveys were carried out to provide factual and detailed information on the performance of 6 local authorities in council house allocation, improvement grants, council mortgages and council house sales. The information was intended to support inter-authority comparisons, and to check on variability of policy and practice. The emphasis was on the extent to which housing need was being met and housing opportunities created. Main Topics: Attitudinal/Behavioural Questions (SN: 205) This dataset records information collected from the West Bromwich Waiting List. Type of list, length of application, applicant's marital and family situation, whether baby expected at application data, 'points' (total and detailed breakdown, e.g. size of family points, shared accommodation points). Period of residence/employment in West Bromwich County Borough, tenure, household size and type, bedrooms for applicant's family, use of separate living room, whether family separated by accommodation (length of time), other persons in dwelling, amenities, any personal disabilities, cleanliness. Type of dwelling recommended/allocated, number of bedrooms needed, area, offers made, rent/floor area allocated, rateable value allowed, age/grade choice and allocation, category of tenant, origin of letting, present location, location allocated, comparison of density of occupation (present and previous). Background Variables (SN: 205) Age, sex, ethnic origin, household status, place of residence, number of children less than/over 16 years of age, number under 5 years of age. Attitudinal/Behavioural Questions (SN: 263, 268, 271, 274, 277 and 280) Type of list, type of house, tenure, number of bedrooms, whether living room shared, other persons in house, standard of decorations. Type of house wanted, reasons for application, offers made, rent record. Expectant mother at application, medical claims 'points'. Required: type of dwelling, number of bedrooms, garage or car space. Location, age and grade of house (chosen and allocated). Present, chosen and allocated density of occupation. Floor space allocated. Background Variables (SN: 263, 268, 271, 274, 277 and 280) Age, marital status, place of birth, children 16 and under/5 and under, household size and type, length of residence at present address and in UK. Attitudinal/Behavioural Questions (SN: 264) Length of residence, whether on council waiting list, owner occupier, whether other property owned, present rent, rent willing to pay, general condition of property, cleanliness, rent record, medical problems, offers made, type of dwelling allocated, rent allocated, rateable value allocated, category of tenant, origin of letting, present, chosen and allocated location, age and grade of house, density of occupation allocated. Background Variables (SN: 264) Age, children 15 and under/5 and under, household type and size, number in employment, total income, car ownership. Attitudinal/Behavioural Questions (SN: 265) Size and age of house, mortgage intention, market price, sale price, % discount, market price above construction cost, length of tenancy, reasons for withdrawal, rent record, previous tenure, family size on application, whether still at same address, density of occupation, grade of estate, car parking facilities. Background Variables (SN: 265) Age, children 15 and 5 and under, household type. Attitudinal/Behavioural Questions (SN: 266) Term of loan sought, reference satisfactory, income satisfactory, price, loan sought, valuation, advance approved, balance of annual repayments, valuation as % price, loan granted as % price, loan approved as % valuation, loan approved as % price, time taken for approval, whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, notices to repair outstanding, type of property, number of bedrooms, garden, garage, hot water system, age of buildings, annual basic earnings, overtime, total earnings, total household income, annual repayment as % applicant's annual earnings, annual repayments as % household annual earnings, mortgage held. Background Variables (SN: 266) Age, place of birth, family size, social class. Variables (SN: 267, 270, 273, 276 and 279) Type of grant, nature of work, cost approved, maximum grant, age of property, tenure, mortgage, cost of improvement, cost of repairs as % approved costs, grant as % total costs, total cost of work, grant approved, date of application, time taken from application to approval, time taken from approval to completion, time taken from application to completion, area, house type. Attitudinal/Behavioural Questions (SN: 269, 272, 275, 278 and 281) Period of loan sought, income status, period of loan granted, category of tenant, price, loan applied for, valuation, advance given, balance, annual repayments, valuation as % price, loan granted as % loan sought, loan as % price, loan as % valuation, time taken from application to approval. Length of tenancy, rate of interest, earnings, overtime, other earnings, total applicant's earnings, total household income, previous rent, repayments as % previous rent. Whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, repairs required, type of house, garden, garage, hot water system, central heating, number of bedrooms, age of property, mortgage, area, grade of estate, previous tenure, density of occupation. Background Variables (SN: 269, 272, 275, 278 and 281) Age, social class, children 16 and under/5 and under, household type and size.

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In September 2023, the average 10-year fixed rate interest rate reached 5.1 percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2022, reaching close to 1.3 million. Despite the number of transactions falling, this figure was higher than the period before the COVID-10 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for fourth straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About five million homeowners are projected to see their deal expire by the end of 2026. About two million of these loans are projected to experience a monthly payment increase of up to 199 British pounds by 2026.

Abstract copyright UK Data Service and data collection copyright owner.A series of surveys were carried out to provide factual and detailed information on the performance of 6 local authorities in council house allocation, improvement grants, council mortgages and council house sales. The information was intended to support inter-authority comparisons, and to check on variability of policy and practice. The emphasis was on the extent to which housing need was being met and housing opportunities created. Main Topics: Attitudinal/Behavioural Questions (SN: 205) This dataset records information collected from the West Bromwich Waiting List. Type of list, length of application, applicant's marital and family situation, whether baby expected at application data, 'points' (total and detailed breakdown, e.g. size of family points, shared accommodation points). Period of residence/employment in West Bromwich County Borough, tenure, household size and type, bedrooms for applicant's family, use of separate living room, whether family separated by accommodation (length of time), other persons in dwelling, amenities, any personal disabilities, cleanliness. Type of dwelling recommended/allocated, number of bedrooms needed, area, offers made, rent/floor area allocated, rateable value allowed, age/grade choice and allocation, category of tenant, origin of letting, present location, location allocated, comparison of density of occupation (present and previous). Background Variables (SN: 205) Age, sex, ethnic origin, household status, place of residence, number of children less than/over 16 years of age, number under 5 years of age. Attitudinal/Behavioural Questions (SN: 263, 268, 271, 274, 277 and 280) Type of list, type of house, tenure, number of bedrooms, whether living room shared, other persons in house, standard of decorations. Type of house wanted, reasons for application, offers made, rent record. Expectant mother at application, medical claims 'points'. Required: type of dwelling, number of bedrooms, garage or car space. Location, age and grade of house (chosen and allocated). Present, chosen and allocated density of occupation. Floor space allocated. Background Variables (SN: 263, 268, 271, 274, 277 and 280) Age, marital status, place of birth, children 16 and under/5 and under, household size and type, length of residence at present address and in UK. Attitudinal/Behavioural Questions (SN: 264) Length of residence, whether on council waiting list, owner occupier, whether other property owned, present rent, rent willing to pay, general condition of property, cleanliness, rent record, medical problems, offers made, type of dwelling allocated, rent allocated, rateable value allocated, category of tenant, origin of letting, present, chosen and allocated location, age and grade of house, density of occupation allocated. Background Variables (SN: 264) Age, children 15 and under/5 and under, household type and size, number in employment, total income, car ownership. Attitudinal/Behavioural Questions (SN: 265) Size and age of house, mortgage intention, market price, sale price, % discount, market price above construction cost, length of tenancy, reasons for withdrawal, rent record, previous tenure, family size on application, whether still at same address, density of occupation, grade of estate, car parking facilities. Background Variables (SN: 265) Age, children 15 and 5 and under, household type. Attitudinal/Behavioural Questions (SN: 266) Term of loan sought, reference satisfactory, income satisfactory, price, loan sought, valuation, advance approved, balance of annual repayments, valuation as % price, loan granted as % price, loan approved as % valuation, loan approved as % price, time taken for approval, whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, notices to repair outstanding, type of property, number of bedrooms, garden, garage, hot water system, age of buildings, annual basic earnings, overtime, total earnings, total household income, annual repayment as % applicant's annual earnings, annual repayments as % household annual earnings, mortgage held. Background Variables (SN: 266) Age, place of birth, family size, social class. Variables (SN: 267, 270, 273, 276 and 279) Type of grant, nature of work, cost approved, maximum grant, age of property, tenure, mortgage, cost of improvement, cost of repairs as % approved costs, grant as % total costs, total cost of work, grant approved, date of application, time taken from application to approval, time taken from approval to completion, time taken from application to completion, area, house type. Attitudinal/Behavioural Questions (SN: 269, 272, 275, 278 and 281) Period of loan sought, income status, period of loan granted, category of tenant, price, loan applied for, valuation, advance given, balance, annual repayments, valuation as % price, loan granted as % loan sought, loan as % price, loan as % valuation, time taken from application to approval. Length of tenancy, rate of interest, earnings, overtime, other earnings, total applicant's earnings, total household income, previous rent, repayments as % previous rent. Whether applicant is tenant, whether part of house would be let in future, freehold or leasehold, rateable value, repairs required, type of house, garden, garage, hot water system, central heating, number of bedrooms, age of property, mortgage, area, grade of estate, previous tenure, density of occupation. Background Variables (SN: 269, 272, 275, 278 and 281) Age, social class, children 16 and under/5 and under, household type and size.

Building societies, unlike banks, are not listed on the stock market and thus, don't have external shareholders. Instead, the shareholders and decision makers of building societies are the investing members. Building societies offer many traditional banking products and financial services such as mortgage lending, savings, and current accounts. In September 2022, the value of mortgages outstanding by building societies amounted to approximately 367 billion British pounds.

Mortgage lending by building societies in the United Kingdom (UK)

After a year of lower lending activity due to the coronavirus (COVID-19) crisis, in March 2021, the monthly value of residential mortgage lending by building societies in the UK reached record high levels. The fluctuation in lending can also be seen in the number of mortgage loan approvals.

Mortgage lending in the UK

The UK is one of the biggest residential mortgage markets in Europe, worth almost 1.7 trillion euros. Building societies rank among the largest mortgage lenders by market share together with the leading UK banks. In 2019, the largest building society and second largest lender in the UK was Nationwide BS.

The value of residential mortgage lending decreased across many European countries in the first quarter of 2024. In the UK, new lending declined from about 66.8 billion euros to 59 billion euros between the first quarters of 2023 and 2024. One of the main reasons was the worsening economic conditions and rising interest rates. Together with France and Germany, the UK make up the top three biggest markets, both in terms of gross mortgage lending and outstanding mortgage lending.