House purchase lending down in London

August 24, 2016

The Council of Mortgage Lenders (CML) published today press release  headlined ‘Loans to first-time buyers up but movers down in London’.

In it’s news release it begins by mentioning that in the second quarter home buyers in London borrowed £5.5bn for home-owner house purchase, down 23% quarter-on-quarter and 3% on a year ago…...more

Paul Smee, director general of the CML, commented: “First-time buyers have continued to drive mortgage lending in London, with 10% more first-time buyer lending in the second quarter than the first.The opposite is time for home movers, probably just reflecting a rebalancing after the very strong first quarter as many buyers sought to complete purchases before changes to stamp duty.

“The second quarter data largely pre-dates the EU referendum. While it will take time to see how Brexit may affect the market, the London mortgage market clearly remains active and firmly open for business”.

To read the CML report 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

Estate Agent Talk

Will the ‘Our Future Homes’ report address the needs of an ageing population?

Will the ‘Our Future Homes’ report address the needs of an ageing population? By Kevin Shaw at Leaders The government recently published an independent report, ‘Our Future Homes’, which considers our ageing population and looks at how housebuilders can meet the wants and needs of older people. It is widely acknowledged that not enough new homes…
Read More →
Breaking News

Zoopla: Over a quarter of parents ‘lie or break rules’ to get children into their preferred school

Admission Impossible: Over a quarter of parents admit to ‘lying or bending’ rules to get their children into preferred schools Over a quarter (27 per cent) of UK parents admit to flouting the rules to get their children into schools, rising to 38 per cent in London The number who admit lying is on the…
Read More →
Breaking News

Government planning reforms to protect nature

News that the Government has warned that the planning system must protect nature, as it unveils reforms Partner Alison Ogley, Freeths commented: “This is a potential game changer addressing the current inertia in the system, providing a solution that is more effective than individual developers trying to address environmental improvements on a project by project…
Read More →
Love or Hate Rightmove
Breaking News

Surge in demand for investment sector as interest rates drop

The latest insights from the UK’s number one commercial property website Rightmove reveals that there has been a surge in demand to invest in commercial property compared with the same period a year ago, as interest rates drop following the second Bank Rate cut. The trend marks a continued recovery for the investment sector as…
Read More →
Letting Agent Talk

7 Ways Self Storage Supports Business Growth in 2025

As businesses face increasing challenges in managing costs, scaling operations, and adapting to changing markets, self storage has emerged as an indispensable tool for success. Whether you’re a small startup or an established multinational company, self storage offers a practical, affordable, and secure way to handle the demands of modern business. As businesses grow, they…
Read More →
Estate Agent Talk

How much would Bridget Jones’ iconic London apartment cost today?

How much would Bridget Jones’ iconic London apartment cost today? A new study has revealed that the average price to purchaseBridget Jones’ iconic London apartment in the Borough Market area is now £415,090. The study calculated that this is a price increase of 182% since the first film premiered in 2001. The research obtained data…
Read More →