Pre-Summer boost for mortgage market according to UK Finance

July 13, 2018

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.

 

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

Breaking News

Here’s how to avoid garden rows this summer

Brits are being warned not to let summer fun turn into a neighbourhood battleground as BBQs, late-night parties, flying footballs and fence rows return to Britain’s gardens. With families spending more time outside, children playing for longer and homeowners tackling garden jobs, small irritations can quickly spiral when people are hot, tired and trying to relax. Jordan Kluth,…
Read More →
Breaking News

Breaking Property News 16/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The Housing Market Does Not Need Saving: It Needs De-Risking   Thought leadership by Olivier Jauniaux, Founder of NestLink   “Everything starts with a good home,” Andy Burnham told a hall full of highly hopeful supporters at the People’s History Museum in Manchester in June 2026, in the…
Read More →
Breaking News

Why the postcode can make a big difference to your rebuild costs

93% of UK properties are insured for the wrong amount, according to research by RebuildCostASSESSMENT.com. The regional breakdown behind this figure shows why location still matters when calculating rebuild values. National figures demonstrate the scale of the issue and regional data helps show where inaccurate sums insured are more common. “Two similar properties in different…
Read More →
Rightmove logo
Breaking News

New record rents as rental supply falls for first time since 2022

The average advertised rent of homes outside London has risen by 1.9% this quarter to a new record of £1,397 per calendar month, the first quarterly rent record since Q3 2025: The average advertised rents outside London is now 2.3% higher than a year ago, an increase from 1.6% last quarter London also reaches a…
Read More →
Breaking News

Our predictions for the property market in the second half of 2026

Allison Thompson, Chief Lettings Officer, Leaders part of LRG. There is a lot going on right now that’s impacting the property market, both in terms of direct legislation and the wider economy: Global conflicts affecting consumer confidence and interest rates Ongoing cost of living issues challenging affordability for homeowners and renters The recent introduction of…
Read More →
Breaking News

Breaking Property News 14/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   REVIEW: The Future of Real Estate Education: From Pedagogy to Technology Author Mr. Hugh Kelly, Ph.D., CRE Emeritus   Edited by Karen M. McGrath, Elaine M. Worzala, and Pernille H. Christensen. (Routledge, New York and London, 2026). 330 pp. ISBN 9781032625041. Paperback $70.99; hardcover $170.00; ebook…
Read More →