Mortgage lending for house purchase in July was lower than in the preceding month according to UK Finance

September 13, 2017

UK Finance data  shows that mortgage lending for house purchase in July was lower than in the preceding month but higher than a year earlier. First-time buyer lending increased year-on-year. Remortgaging by home owners increased both month-on-month and year-on-year.

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

“Remortgaging strengthened in July and reached its highest level since January, with customers attracted by borrowing rates that are at or close to their historic low point. The increase in activity in July means that, over the last year, the number of people remortgaging has been at its highest since 2009.

“Lending for house purchase was lower in July than in the preceding month, and we expect the market to continue to soften a little in the coming months.”

Read the report from UK Finance dated 12th September 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.

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