Buy-to-Let lending down on August.

October 12, 2016

Press release published today from the Council of Mortgage Lenders (CML) headlines ‘August House Purchase Lending up 11% compared to a year ago.’

The news article leads: Home-owners borrowed £12.2bn for house purchase, up 14% month-on-month and 11% year-on-year. They took out 66,000 loans, up 13% on July and 9% on August 2015.

Paul Smee, director general of the CML, commented: “House purchase activity bounced back from a dip in July, reflecting resilience in first-time buyer activity.  Mortgage rates remain at or close to historic lows, and the re-pricing of mortgages following August’s base rate cut should help to underpin a continuing, strong appetite for home-ownership over the coming months.

“Buy-to-let by contrast continues to operate at lower levels five months after the stamp duty change on second properties. This appears to be a long-term trend, and with lenders potentially tightening affordability checks ahead of the tax changes in April 2017, activity on the buy-to-let house purchase side may well remain at current levels”.

To read the CML report  in full with data 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

Breaking News

Halifax House Price Index November 2024

House prices in November 2024 were 4.8% higher than the same month a year earlier. House prices increased by +1.3% in November, a fifth consecutive monthly increase Property prices are up +4.8% on an annual basis (vs +4.0% last month) Typical property now costs £298,083, a new record Northern Ireland continues to record the strongest…
Read More →
Estate Agent Talk

UK government ignoring construction costs and threatening housing delivery

Commenting on how the UK government is overlooking construction costs, damaging UK housing delivery, Daniel Austin, CEO and co-founder at ASK Partners, said: “Government initiatives such as the 95% mortgage guarantee scheme and £5bn allocation for new homes are clearly positive initiatives. However, a critical issue remains overlooked: the cripplingly high construction costs that severely limit the number…
Read More →
Breaking News

Zoopla reveals buyer behaviour in Property for 2024

2024 in Property: Zoopla reveals buyer behaviour and user trends over the past 12 months, after the busiest sales pipeline in four years   Disney-themed property in Wales is the most viewed property on Zoopla in 2024 with 219,000 views The average time to sell in 2024 was 33 days, down from 34 days in…
Read More →
Breaking News

UK Government’s ambitions for removing unsafe cladding

As at the end of October 2024, there are 4,834 residential buildings 11 metres and over in height identified with unsafe cladding whose remediation progression is being reported on in this release, an increase of 13 since the end of September 2024. Since the department first began reporting on all five remediation programmes in October…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker – 5/12/24

The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More →
new build home fronts
Estate Agent Talk

Five real estate opportunities to watch out for in 2025

Daniel Austin, CEO and co-founder at ASK Partners gives his opinion on five significant real estate opportunities in 2025. The UK real estate market in 2025 is set to offer a diverse range of opportunities. Key growth areas include build-to-rent (BTR), co-living spaces, student housing, hotels and offices. These sectors present promising avenues for investment…
Read More →