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

Estate Agent Talk

Conveyancing causes more stress than property chains

The latest research by Lyons Bowe has found that 42% of recent homebuyers say conveyancing is the biggest barrier to a smooth property transaction, compared with just 19% who point to property chains. The survey of 1,000 recent homebuyers* examined which aspects of the transaction process had presented the biggest barriers to a smooth journey,…
Read More →
Rightmove logo
Breaking News

Britain’s most competitive summer rental hotspots

New analysis from the UK’s largest property platform Rightmove has revealed the areas where renters faced the strongest competition this summer, with several North West towns emerging as the toughest places to secure a home Wallasey and Birkenhead in Merseyside were Britain’s joint most competitive rental market during July and August, with an average of…
Read More →
AI in estate agency letting agency property
Letting Agent Talk

The 5 tasks lettings agents won’t trust to AI

AI must make lettings more human, not less, and that requires real rental intelligence. The latest research from Propoly has found that letting industry professionals see a clear role for AI in property management, but are reluctant to let it operate without human oversight, particularly when decisions involve people, complex circumstances or potentially significant consequences. Propoly…
Read More →
Breaking News

Foxtons Lettings Market Index – August 2026

The busiest weeks arrived earlier than usual, with activity spread more evenly across the summer due to implementation of the RRA • Renter registrations eased 3.0% in August. Along with July, it was still the peak of 2026, finishing off the summer rush just below July’s levels. • Competition for available property rose 22.4% in…
Read More →
Breaking News

Three-quarters of homebuyers hunt after 5pm

Britain’s property hotspots where estate agency branches are handling the most sales revealed The latest internal data from Street.co.uk has revealed that estate agency branches using the platform are handling an average of 4.7 property sales per branch each month across Britain’s major cities, some two properties more per branch than the estimated wider market…
Read More →
Breaking News

Breaking Property News 23/9/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Voluntary upfront property information is a tax on conscientiousness estate agents Nobody wants to go first Thought Leadership by Olivier Januiax Founder of Nestlink ‘Picture this, you have invited two estate agents to carry out a market appraisal on your home, because you want…
Read More →