Pre-Summer boost for mortgage market according to UK Finance

Written by Allen Walkey on - Breaking News -

Latest UK Finance Mortgage Trends Update for May 2018 headlines ‘Mortgage Market Sees Pre-Summer As Remortgaging Continues Strong Upward Trend’.

The latest UK Finance Mortgage Trends Update reveals there were 32,200 new first-time buyer mortgages completed in the month, 31,100 new homemover mortgages completed in the month, 36,000 new homeowner remortgages completed in the month,  5,500 new buy-to-let home purchase mortgages completed in the month and 14,600 new buy-to-let remortgages completed in the month.

Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance said:

“The mortgage market is seeing a pre-summer boost, driven by a rise in the number of first-time buyers and strong remortgaging activity. It is also particularly encouraging to see an increase in homemovers, after a period of relative sluggishness in this important segment of the market.

“However, affordability remains a challenge for some prospective buyers and this is reflected by a gradual increase in loan to income multiples.

“Meanwhile purchases in the buy-to-let market continue to be constrained by recent regulatory and tax changes, the full impact of which have yet to be fully felt.”

Read the UK Finance Mortgage Trends Update – May 2018 in full click here.


Author: 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.

Estate Agent Web Site Design special offer combined with Mailsign Branded emails just £499 for interactive bespoke design.

Full Details of Web design Service 


Recent Popular Articles

New Tenancy rents continue to rise.

The HomeLet Rental Index figures  released yesterday show that rents agreed on new tenancies across the UK over the three months to the end of

Paragon Group report strong results in a transitional year

The Paragon Group of Companies PLC the specialist lender and banking group last week announced its full year results for the year ended 30 September

Savills Estate Agency selling Tom Cruise's Countryside Estate.

An iconic film star and a wonderful countryside estate - Match made in heaven perhaps yet supposedly this has come in to play via Tom Cruise

Halifax HPI Decemeber

The Halifax House Price Index released last week showed that quarterly house price growth remained below 2%.   House prices in the latest three months

Wales need to do more to attract talent into the construction industry

The Construction Industry Training Board (CITB) predicts that the construction industry in Wales will grow faster than any other party of the UK. According to