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Highlights
- New mortgage commitments in the UK saw an increase during the first three months of 2022.
- The latest figures show a 6.7% increase over the previous quarter and a 6.6% increase over Q1 2022.
Despite the high cost of living and skyrocketing prices of houses, new mortgage commitments in the country saw an uptick during the first quarter of 2022, new data has revealed.
The data from the Bank of England’s (BoE) mortgage lenders and administrator return (MLAR) showed that new mortgage commitments during the period climbed to £82.5 billion, a 6.7% increase over the previous quarter and 6.6% higher than the first quarter of 2022.
On the other hand, the value of gross mortgage advances in the first three months of 2022 stood at £76.9 billion, a £6.7 billion increase over the previous quarter.
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The quarterly report, which aggregates data from around 340 lenders, also revealed that the outstanding value of all residential mortgage loans was £1,630.5 billion at the end of Q1, 4.4% more than the same period last year.
Let us take a look at some FTSE-listed mortgage stocks and how they have been faring.
NatWest Group plc (LON: NWG)
NatWest Group is a major banking and financial services provider in the UK and also has operations in several other countries. The company was in the news recently after a tribunal ruled that it unfairly sacked an employee days after her cancer treatment.
NatWest holds a market cap of £23,201.89 million at present, and its shares ended at GBX 221.40 on 14 June 2022. Over the last one year, the company's shares have provided a return of 8.27% to the investors. The year-to-date (YTD) returns, meanwhile, stand in the negative territory at -1.91%.
OSB Group Plc (LON: OSB)
OSB Group operates as a specialist mortgage and retail savings company. It is listed on the FTSE 250 index and focuses on several sub-segments like buy-to-let, residential, asset finance, etc.
The company's shares closed at GBX 499.60 on 14 June 2022, with a market cap of £2,219.68 million. OSB Group's shares have provided a return of 4.74% to the shareholders over the past one year. The YTD return currently stands at -9.90%.
Mortgage Advice Bureau (Holdings) Plc (LON: MAB1)
The company provides mortgage advice services to its customers in the UK. It has a network of over 150 mortgage intermediary firms with over 1,400 advisors.
Mortgage Advice Bureau holds a market capitalisation of £610.05 million as of 14 June 2022. Its one-year return currently stands at -14.40%, while the YTD return stands at -26.21%. Shares of the company closed at GBX 1,085.00 on 14 June 2022.
Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
