Lending up in February says CML

April 14, 2016

A press release published yesterday by the Council of Mortgage Lenders (CML) stated on an unadjusted basis, lending in February:

Home-owners borrowed £8.7bn for house purchase, up 4% month-on-month and 21% year-on-year. They took out 48,000 loans, up 4% on January and 12% on February 2015.

First-time buyers borrowed £3.4bn, up 3% on January and 21% on February last year. This totalled 22,000 loans, up 3% month-on-month and 11% year-on-year.

Home movers borrowed £5.3bn, up 4% on January and up 20% compared to a year ago. This totalled 26,000 loans, up 4% month-on-month and up 14% on February 2015.

Remortgage activity totalled £4.8bn, down 17% on January but up 37% compared to a year ago. This came to 28,400 loans, down 15% month-on-month but up 24% compared to a year ago.

Landlords borrowed £3.7bn in February, unchanged month-on-month but up 61% year-on-year. This came to 23,700 loans in total, up 1% compared to January and up 47% compared to February 2015.

Read the full report on the CML website 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

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →
Letting Agent Talk

Poor Communication becomes Expensive at Scale

The hidden cost of fragmented property management By Adam Hills, Client Services Director, LRG Living Markets A landlord asks for an update on a repair. The property manager asks the contractor, who is waiting for access from the tenant. Meanwhile, the accounts team has received an invoice but cannot tell whether the work is complete.…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

When Estate Agents Decide to Go Solo

Leaving an established estate agency to work independently gives experienced agents more control over fees, client service and working hours. It also brings responsibility for compliance, cash flow and every part of the customer experience. Before handing in your notice, test the idea against realistic sales volumes, local competition and the amount of time you…
Read More →
Estate Agent Talk

What Should Buyers Ask Before Reserving a New Build?

Research from Skipton Building Society has found that 44% of aspiring first time buyers would rather buy a new build than an older property, with just 30% favouring an older build. Modern fittings and appliances were the biggest draw, cited by over half of those who preferred a new build, alongside the promise of lower…
Read More →
Breaking News

The UK cities with the largest property price increases revealed

A new study has unveiled the most challenging UK cities for first-time buyers. Newry leads Northern Ireland’s ranking, with a property price increase of 12.8%, while Hull leads Great Britain’s ranking, recording an increase of 6.6%. The research examined data from HM Land Registry to reveal the cities that have faced the highest property price…
Read More →