Increasing numbers of first-time buyers help build mortgage activity according to UK Finance

December 28, 2017

Latest UK Finance news – Update on lending – December 2017.

UK Finance estimate gross mortgage lending in November was £23.1 billion, 9 per cent higher than a year earlier, with 60 per cent of all new lending provided by High Street banks.

Commenting on the data, Managing Director of Commercial and Personal Finance Eric Leenders said,

“Today’s data reflects a continuing trend that we have seen throughout 2017: ongoing activity in the mortgage market and a shift towards more flexible and affordable personal credit options. But there are signs of caution from the business community which could indicate that many firms are choosing to build up capital rather than borrowing to invest.

“Increasing numbers of first-time buyers, low interest rates and a competitive marketplace have helped build up mortgage activity through the year, with gross lending standing at nine per cent higher than at the same point in 2016. Credit card spending has continued to rise as more financial transactions are now carried out using cards, mirroring the declining use of loans and personal overdrafts.

“However, business borrowing has continued to moderate through 2017, with the major sectors of manufacturing, wholesale and retail business showing only modest annual growth, while construction and property-related sectors have contracted their bank borrowing over the year.”

Read the latest UK Finance news posted 28th December 2017 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

Rental price and average salary tracker – March 2026

Rents Plateau, But UK Market Tells Regional Story Significant comparisons include across Scotland where average agreed rents rose to £1,123, representing a 4.95% increase month and month across the nation. Northern Ireland saw the second largest average monthly rents rise, bringing an increase of 3.99% to an average agreed price of £887 compared to £853…
Read More →
Breaking News

Breaking Property News 9/4/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why Rightmove is making all the wrong moves   In a world reshaped by AI, incumbency is no longer protection. It is exposure. Thought Leadership By Andrew Stanton, CEO Proptech-PR Rightmove has long been the unassailable giant of UK property portals—a category-defining platform that, for years, operated…
Read More →
Breaking News

Six property firms expelled from redress scheme

Six property businesses have been expelled from The Property Ombudsman after failing to pay compensation awards. The expulsions followed a review by the scheme’s independent Compliance Committee, which agreed that each firm should be removed for breaching their membership obligations by not complying with Ombudsman decisions. The Property Ombudsman, which provides impartial dispute resolution for…
Read More →
Home and Living

Best garden renovations to increase property value this spring

With spring fast approaching and warmer weather finally in sight, now is the perfect time to step outside and give your garden the well-deserved TLC and refresh it needs after such a wet and dreary start to the year. Whether it’s refreshing planting beds, updating patio areas or rethinking your layout, investing time into your…
Read More →
Breaking News

Prime London property market stays firm

The latest Prime London Demand Index by London lettings and estate agent, Benham and Reeves, reveals that, despite broad economic uncertainty, buyer demand across London’s most prestigious neighbourhoods avoided a decline during the first quarter of 2026, with the likes of Chelsea, Battersea, Highgate, and Belgravia seeing quarterly demand increases of above 5%. The Prime…
Read More →
Breaking News

More first-time buyers enter the market in 2026

The latest research by Yopa has revealed that first-time buyer demand has strengthened during the first quarter of 2026, despite the supply of homes offering the benefit of a buying scheme remaining limited. Yopa analysed first-time buyer demand based on the proportion of homes listed under buying schemes* that have already sold subject to contract…
Read More →