House purchase Lending for July down on June.

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

Rise in no fault evictions

No fault evictions have risen according to the latest data published by the Ministry of Justice. Property disputes lawyer says “some landlords are unwilling to wait for the new Renters’ Rights legislation and are choosing to leave the market” Landlords can apply for an accelerated possession order if the tenants have not left by the…
Read More
Love or Hate Rightmove
Breaking News

Rightmove Weekly Mortgage Rates – 14/02/25

Rightmove’s mortgage expert Matt Smith says: “It’s another week of average rate drops, and the response from the market since the Bank Rate cut has been positive. We hope to now see a sustained period of mortgage rates trickling downwards to lead us through the Spring selling season.” On the first sub-4% mortgage rate Matt says: “The…
Read More
Adding second coat of varnish floor boards
Home and Living

The Benefits of Wooden Flooring: Why It’s a Classic Choice for Any Home

Wooden flooring is often regarded as a timeless and classic choice for homeowners looking to add elegance, warmth, and durability to their living spaces. Whether you’re renovating your home or building from scratch, the decision to install wooden floors is an investment that enhances both the beauty and functionality of your space. In this article,…
Read More
Rightmove logo
Breaking News

Could you fall in love with a home without seeing it? 1 in 5 Brits think they could

As the new season of Love Is Blind hits Netflix this Valentine’s Day, it seems that some Brits are taking the concept of love, (sight unseen) to a whole new level, when it comes to finding their dream home. New research from Rightmove, the UK’s largest property website, reveals that one in five Brits admit…
Read More
Home and Living

Securing Solar Investments: How to Protect Your Solar Panels and Ensure ROI

Investing in solar energy is a smart move for both your wallet and the planet, but protecting that investment is just as important as making it. Solar panels face risks from theft, vandalism, weather damage, and neglect, all of which can chip away at your returns. To ensure your system operates efficiently and generates the…
Read More
Breaking News

Almost one in five property sales now experience ‘gazundering’

Almost a fifth of property sales now experience gazundering, according to figures from property firm Quick Move Now. Gazundering, which is the attempted renegotiating of a lower property purchase price after a sale has been agreed, has become more common in recent years as the market contends with cautious buyers and difficult economic conditions. According…
Read More