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

Rightmove logo
Breaking News

Rightmove to launch Christmas campaign as bigger Boxing Day bounce expected

Rightmove, the UK’s largest property platform, is encouraging potential home-movers to get started with their new year moving plans by investing in a multi-channel marketing campaign launching on Christmas Day. The campaign comes ahead of the traditional ‘Boxing Day bounce’ in home-moving activity on Rightmove, which typically sees new seller and buyer activity begin to…
Read More →
Rightmove logo
Breaking News

Rightmove reveals 2026 market trends as prices predicted to rise by 2%

Rightmove reveals the trends it expects to take place across the 2026 housing market Prices are predicted to rise nationally by 2% after an unexpected fall of 0.6% in 2025, but regional variations are expected: Lower priced Scotland, Wales and north of England to be more resilient on price next year, while London and the…
Read More →
Estate Agent Talk

Dolphin v Beauchamp Estates v Hudsons – Elite Apartment Rental Options in London SW1

London has long been known as a potpourri of diverse cultures, lending it a whimsical charm while being a major global hub. Renowned for its juxtaposition between modernity and royal heritage, it’s a unique blend of ancient landmarks and contemporary living. You’ll find avant-garde architecture sitting comfortably alongside historic streets and vibrant neighbourhoods. While the…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

Stay secure this Christmas: Home security tips for high-value homes

High value home insurance specialists, Stanhope, are warning homeowners to be especially careful this Christmas. “It’s a busy time for everyone, including burglars,” says Director, Matthew Ashton, who highlights why high value homes are particularly vulnerable and what to do about it. “High value homes are easy to identify thanks to tell-tale signs of wealth…
Read More →
Letting Agent Talk

Six months on: How the new anti money laundering regulations are reshaping the lettings market

Six months have passed since the anti-money laundering (AML) rules came into effect, bringing mandatory financial sanctions checks into every area of the lettings market. When the changes were first introduced, many landlords were surprised by the breadth and immediacy of the requirements. Half a year on, the sector is now seeing how the industry…
Read More →
Breaking News

Private rent and house prices, UK: December 2025

Main Points Average UK monthly private rents increased by 4.4%, to £1,366, in the 12 months to November 2025 (provisional estimate); this annual growth rate is down from 5.0% in the 12 months to October 2025. Average rents increased to £1,422 (4.4%) in England, £820 (6.1%) in Wales, and £1,012 (3.3%) in Scotland, in the…
Read More →