August house purchase lending….

According to the Council of Mortgage Lenders August house purchase lending was down 9% on July, but up 2% on last year.

First-time buyers, home movers, home-owner remortgage and buy-to-let all saw a monthly decline in lending in August but an uptick (significant for buy-to-let) compared to August 2014.

This is a normal seasonal trend, with August typically less strong for mortgage completions.

The underlying picture is of improvement in lending levels on a year-by-year basis.

Bob Pannell, chief economist of the CML, commented: “Seasonal factors pushed all categories of lending lower in August compared to July. However, the mortgage market continues to see year-on-year growth, and we expect this to continue over the coming months”.

Full details on website: http://www.cml.org.uk/news/press-releases/house-purchase-lending-up-9-in-august-on-last-year/

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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