Especially high number of loans for first time buyers in June according to UK Finance
News release published by UK Finance yesterday 15th August 2017 headlined ‘First-time buyer activity continues to grow in June’ reveals, June mortgage lending trends show month-on-month and year-on-year increases in house purchase, buy-to-let and remortgage activity.
On a seasonally adjusted basis, lending to first-time buyers and home movers remained relatively unchanged month-on-month, but there were year-on-year increases by volume and by value according to UK Finance.
Paul Smee, Head of Mortgages at UK Finance, commented:
“June’s figures show a busy month in the mortgage market, with home movers having their highest monthly activity levels for over a year and an especially high number of loans for first time buyers. Buy-to-let activity remains subdued compared to its 2015 peak but consistent month-to-month since stamp duty changes in April 2016. But there are also signs of a softening market and we are not anticipating that this performance will be sustained in the second half of 2017. A slightly lop-sided market could well show some growth in house purchase lending but alongside reduced remortgage and buy-to-let activity”.
Read the UK Finance news report 15th August 2017 in full click here.
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