Mortgage Market softens according to UK Finance
UK Finance’s latest Mortgage Trends Update for September 2018 headlines ‘Mortgage Market Softens Following Period Of Strong Growth.
Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance, said:
“Overall remortgaging for both residential and buy-to-let properties have levelled out after a period of strong growth. This reflects the number of fixed rate loans reaching maturity.
“Buy-to-let home purchases have eased again in September, suggesting lending in this market remains subdued as a result of recent tax, regulatory and legislative changes.
“Demand for house purchases for both first-time buyers and homemovers has also lessened, as affordability constraints continue to bear down on consumer demand for new loans particularly in London and the South East”
Read UK Finance’s latest Mortgage Trends Update for September 2018 in full click here.