Weaker figures for mortgage lending in December 2017 according to UK Finance

February 14, 2018

Latest news release from UK Finance headlines ‘First-time buyers in 2017 reach decade-high but market cools in December’

UK Finance states: Mortgage lending for first-time buyers, home movers and buy to let purchases all fell in December 2017 compared to the previous year, UK Finance’s latest mortgage trends update reveals. However, 2017 overall saw the highest number of first-time buyers (365,000) since 2006.

Commenting on the data, Paul Smee, Head of Mortgages at UK Finance, said:

“2017 saw the number of first-time buyers reach its highest level in a decade, which is welcome news for those getting started on the housing ladder.

“But although the market remains competitive there is no room for complacency, with weaker December figures consistent with our market forecast of subdued growth this year.

“We are also seeing a less buoyant buy-to-let market, which continues to be impacted by recent tax and regulatory changes. This will continue to flatten gross lending volumes this year.”

Read the UK Finance news release 13th February 2018 with data in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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