Key statistics for Q1 2011 are as follows:
- The total value of outstanding loans reduced slightly from last quarter to £1,212bn in Q1;
- New advances in the quarter totalled £33bn, 10% lower than in Q4 but 3% up on the amount advanced in Q1 2010;
- New commitments totalled £35bn, 1% up on last quarter and 3% up on Q1 last year;
- Lending for house purchase represented a reduced share of new lending this quarter, accounting for some 54% of new advances and 52% of new commitments;
- The proportion of new lending done at an LTV of more than 90% fell below 2% for the first time since Q1 last year;
- New lending with a combination of high LTV and high income multiple also fell, to just below 1% of new lending;
- The proportion of loans to borrowers with an impaired credit history remained at 0.3%; it has been at this level since Q3 2009;
- The number of new arrears cases in Q1 was 35,600, 8% lower than last quarter;
- The total number of accounts in arrears at the end of the quarter was 337,000, 2% down on last quarter and 7% down on Q1 2010;
- Consequently, the proportion of the residential loan book that is in arrears, and hence not fully performing, also fell, to 2.88%;
- The number of new possessions in the quarter rose for the first time in a year, up 17% to 9,613; and
- Arrears totalling £34m on 12,916 accounts were capitalised in Q1.
