House purchase Lending for July down on June.

September 15, 2016

Press release published yesterday 14th September, from The Council of Mortgage Lenders (CML) headlined ‘July house purchase lending down 13% on June’.

The report leads: Home-owners borrowed £10.6bn for house purchase, down 13% month-on-month and 12% year-on-year. They took out 58,100 loans, down 14% on June and 13% on July 2015.

Paul Smee, director general of the CML, commented: “These figures cover the  first full month of lending following the EU referendum. They show a month-on-month decline in first-time buyer and home mover activity and  muted activity on the BTL market. It is hard to determine whether these figures reflect a first uncertain reaction to the referendum vote, or are a sign of a market which was already cooling.  It will be quite some time before a full assessment can be made. We do believe that the Buy-to-let lending market is still readjusting after the large level of activity before the changes to stamp duty on second properties in April.

“Remortgage lending on the other hand has continued to grow, and reacted with a 7-year monthly high. Borrowers seem keen to take advantage of the wide range of competitive deals in the market and, following the base rate cut in August, this is likely to continue”.

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

Breaking News

Breaking Property News 20/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Rightmove’s £1.45bn forty minute lawsuit Thought leadership by Olivier Jauniaux Founder of NestLink ‘It takes about forty minutes to find a house on Rightmove according to the portal’s own disclosure. You set the filters, you scroll, you save three, you send one to your partner with the…
Read More →
Breaking News

The six shocking ways first-time buyers are being caught out

Unexpected costs hit 70% of first-time buyers, causing rising anxiety for almost a third of people Over 60% of buyers also face mortgage rejection when finding their dream home Solicitor delays and “waiting around” among the highest drivers of anxiety and stress The First Time Buyer Anxiety Index 2026 delves into the main pain points…
Read More →
Breaking News

FTBs reveal real cost of homeownership

Six in 10 first-time buyers say getting onto the property ladder came at the expense of their quality of life From holidays and hobbies to careers and starting a family, first-time buyers reveal the true cost of homeownership New research by Yopa has revealed that 61% of first-time buyers say saving for their first home had…
Read More →
Breaking News

Supply of family-suitable homes falls across the nation

England is facing a growing shortage of large family homes, according to new analysis from UK Property Development (UKPD), creating increasing challenges for buyers leaving London in search of more space, better quality of life, and access to one of the capital’s most desirable commuter regions. UKPD analysed live property listings data* and found that,…
Read More →
Breaking News

84% of agents fear Autumn Budget anti-climax

Agents welcome first-time buyer support but 84% fear Autumn Budget housing anti-climax The latest industry insight from GetAgent.co.uk has revealed that estate agents believe first-time buyers are most in need of government support and, while the recent announcement of a new first-time buyer scheme will likely be welcomed by the industry, 84% are sceptical as…
Read More →
how to present your property for sale
Estate Agent Talk

The Budget – Residential Property

Thoughts from Lisa Wilson, Partner at law firm Spencer West LLP: “Chancellor John Healey, as many Chancellors before him, has the unenviable task of achieving balance in UK taxation and spending. Whilst there have been a few property rumours in the press, they are notably quieter than in years gone by. Over the Summer months…
Read More →