Provision of Regulated Mortgage Survey (RMS) data to support the House Price Index (HPI)

Tender description

ONS is seeking to develop partnerships with organisations that hold information on mortgages in the UK. Specifically, ONS requires detailed transaction level data on mortgage completions (product sales data), as reported to the Financial Conduct Authority (FCA) by all regulated lenders. ONS requires mortgage completions data by the type of borrower to provide the necessary data to allow the UK House Price Index (HPI) to be produced according to whether the buyer is a first-time buyer or an existing owner. The mortgage completions data will be matched to other data sources (such as that of HM Land Registry) at an address level to allow the buyer status of that record to be identified. The data will not be used as a price determining characteristic within the UK HPI model each month; it will be used in constructing the weights in order to allow a first-time buyer and former owner occupier split. The UK House Price Index weights are updated on an annual basis. In addition, the data will be used to produce regular outputs including simple average house prices, and mortgage advances and incomes of borrowers, by new/other dwellings, type of buyer and region, on a quarterly and annual basis as reported in the tables published in All data related to UK House Price Index: March 2022 - Office for National Statistics (ons.gov.uk). The data may also be used to aid research and create other statistics such as measures of mortgage payment affordability and housing costs for owner occupiers. The data will need to include the following variables at a minimum: • Provider ID • Mortgage Account Number • Account Open Date • Input month • Type of Borrower • Loan Amount • Loan Amount Group • Initial Gross Interest Rate • Type Interest Rate • RepayMethod • Sole or joint application • Age of Main Borrower • Age Group • GrossIncome • Gross Income Group • Purchase Price • Purchase Price Group • New Dwelling • Type of Dwelling • Number of habitable rooms • Number of habitable rooms Group • Number of bedrooms • Number of bedrooms Group • Garage included • Postcode • Mortgage term • Mortgage term Group • Local Authority • Region • Government Office Region • Deposit • Deposit Group • Advance to income ratio • Advance to income ratio Group • Price To Income • Price To Income Group • Advance To Price Ratio • Advance To Price Ratio Group • Main borrower employment status • ID Essential criteria • Able to provide detailed transaction level data on mortgage completions (product sales data), as reported to the Financial Conduct Authority (FCA) by all regulated lenders • Data must be available on a monthly basis, by type of borrower To express an interest in this requirement and any future procurement please contact Gareth.Niblett@ONS.gov.uk or Clare.Jones@ons.gov.uk