Mortgage activity for April lower than previous month according to CML
The latest Council of Mortgage Lender (CML) data released yesterday 13th June headlined ‘Home buyer activity in April down on March but up on a year ago’.
It reveals reveals house purchase activity decreased in April month-on-month but increased year-on-year. Remortgage activity and buy-to-let declined month-on-month.
On a non seasonally adjusted basis home buyers borrowed £9.6bn in April, down 14% on March but up 19% on April 2016.
Paul Smee,diector general of the CML, commented: “April comparisons are distorted by the weakness last year following the stamp duty changes, and the normal seasonal lending surge in March. But the seasonally-adjusted picture shows lending relatively unchanged month-on-month across all lending segments.
“Heading into the summer months, we expect the market to remain slightly lopsided. Buy-to-let and home movers may well remain subdued, as they have been for the last six months. But both first-time buyer and remortgage lending should maintain momentum on the coattails of the attractive deals available”.
Read the latest CML report ‘Home buyer activity in April down on March but up on a year ago’ in full click here.