Mortgage activity picked up in August according to UK Finance

October 13, 2017

The latest UK Finance data published 12th October 2017 shows that lending for house purchase was higher in August 2017 than in both the preceding month and a year earlier.

On a seasonally adjusted basis, borrowing by first-time buyers and movers increased by both value and volume, according to UK Finance. First-time buyers borrowed £5 billion, taking out  30,400 mortgages, home movers borrowed £7.1 billion, equating to 32,800 loans.

UK Finance state: The value of buy-to-let lending was unchanged but there was a small decrease in the number of buy-to-let borrowers remortgaging.

Commenting on the data, UK Finance’s Head of Mortgages Policy June Deasy said:

“Activity picked up in August, and recent resilience ensured that borrowing by home movers was at its highest since March 2016, when transactions were boosted by an imminent increase in stamp duty. Over the last 12 months, the number of people remortaging has been higher than in any period since late 2009. With mortgage rates close to historic lows and the likelihood of a rise in official rates moving closer, the popularity of remortgaging looks set to continue.”

Read the UK Finance report 12th October 2017 with data 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

New Build for Merseyside
Breaking News

First-time buyer demand falls sharply

First-time buyer demand falls sharply across Britain’s major cities, with Nottingham leading the decline The latest research by Yopa has shown that first-time buyer demand has dropped significantly across a number of major British cities, with Nottingham seeing the sharpest decline since the start of the year. Yopa analysed first-time buyer (FTB) demand based on…
Read More →
Breaking News

Families to save hundreds of pounds through major homebuying overhaul

·        Buying or selling a home to be faster, cheaper, and easier under common-sense reforms ·        First-time buyers to save £710 on average, putting money back into people’s pockets ·        Proposals will halve number failed transactions, preventing last minute fall throughs, slashing weeks off the process and driving up standards across the board Hundreds of thousands of first-time…
Read More →
Estate Agent Talk

Got a New Home in Nelson UK? Explore Stylish Furniture for Every Corner

Moving into a new home is always exciting, and if you’ve just settled down in Nelson, UK, now is the perfect time to furnish your space with stylish, functional, and long-lasting pieces. At AH Interiors Nelson, we bring you a wide range of modern and classic furniture that makes every corner of your home truly…
Read More →
Breaking News

Annual house price growth steady in September

Annual rate of house price growth of 2.2% in September, similar to 2.1% seen in August Northern Ireland remained the top performing area with annual house price growth of 9.6% Outer South East weakest performing region, with 0.3% year-on-year rise   Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The annual pace of…
Read More →
Rightmove logo
Breaking News

Rightmove launches Online Agent Valuation to help agents connect with more vendors

Rightmove, the UK’s largest property platform, launches Online Agent Valuation, a new product for agents designed to give them more ways to reach prospective vendors. The consumer innovation delivers quality leads by connecting agents with home-owners who are serious about moving, but who would prefer to get a valuation from a local agent online. Rightmove…
Read More →
Breaking News

September sees highest number of homes listed this year

September brings post-summer surge in home seller activity, with highest number of homes listed so far in 2025 The latest internal data from eXp UK has shown that September has delivered a notable surge in market activity, with the firm recording an average of 81 new properties listed every day over the course of the…
Read More →