Big Drop in Lending to Landlords

In its recent press release by the  Council of Mortgage Lenders (CML) they headlined that Home-owner house purchase lending was down in April.

They mentioned that Home-owners borrowed £8.1bn for house purchase, down 40% month-on-month and 4% year-on-year. First-time buyers borrowed £3.9bn, down 11% on March but up 15% on April last year.

Landlords borrowed £2.5bn, down 65% month-on-month and 7% year-on-year.

Paul Smee, director general of the CML, commented: “There is a sense of calm after the storm this month, as lending eased back, following the significant rises in activity in March as borrowers looked to beat the second property stamp duty deadline. We expect the market to take several months to return to its previous levels after the lending surge”.

To read the CML press release 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.

You May Also Enjoy

Who are Rentd
Letting Agent Talk

Renters (Reform) Bill Dropped – Thoughts from the Industry

The Renters (Reform) Bill has been dropped as a result of the general election being called. Here are some thoughts from within the property industry. Ben Beadle, Chief Executive of the National Residential Landlords Association: “It is hugely disappointing that this Bill will not now make it into law. The news comes despite the fact that…
Read More
Estate Agent Talk

July 4 General Election – Thoughts from the Industry

Prime Minister, Rishi Sunak has called a general election for July 4, 2024, citing now being the time for the people of Britain to choose the next government. Here are some thoughts from within the property industry. Tim Bannister, Rightmove’s property expert: “A look back at recent elections shows that house prices and activity usually…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker

Matt Smith, Rightmove’s mortgage expert said: “Today’s inflation drop feels like an important milestone on the road to the first Base Rate cut. There’s been some to-ing and fro-ing over whether we’ll see a summer Base Rate cut, but today’s news will likely reinforce some of the positive words coming from the Bank of England…
Read More
Estate Agent Talk

Rayner right to be ambitious on housebuilding

At UKREiiF, Angela Rayner, Shadow Housing Secretary made several commitments to help solve the UK’s housing crisis including new towns, greater numbers of affordable housing, a return of housing targets and a clear design code criteria. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “Although election season is the time for…
Read More
Breaking News

Comment on Land Registry’s House Price Index showing an annual rise of 1.8%

Commenting on Land Registry’s UK House Price Index showing an annual rise of 1.8%, Daniel Austin, CEO and co-founder at ASK Partners, said: “The property sector is recovering. Rent values have seen sustained growth, positioning real estate as reasonably valued in comparison to gilts and presenting growth potential. In the realm of commercial real estate,…
Read More
Breaking News

Breaking Property News – 22/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sunak calls General election for 4th July 2024 – American Independece Day Many pundits feel that post the General election Rishi Sunak will fly off to Silicon Valley, so maybe holding the General election on American Independence Day is no coincidence! The real carnage…
Read More