Steady increases in house purchase lending and homeowner remortgaging in November 2017 according to UK Finance

January 17, 2018

The latest Mortgage Trends update for November 2017 from UK Finance released 16th January 2018 headlines ‘Mortgage Market activity bouyant during November 2017.’

The update reveals steady increases in mortgage lending for first-time-buyers and home movers compared to the previous month and the equivalent period in 2016.

Commenting on the data Paul Smee, Head of Mortgages at UK Finance said:

“The data shows housing market activity remains buoyant, despite November’s rise in the base rate. Steady increases in lending for house purchases together with increases in homeowner remortgages reflect a keenness among consumers to benefit from still historically low interest rates, and a highly competitive marketplace.

“In contrast, declines in buy-to-let lending reflect the changing regulatory and fiscal environment for landlord businesses, where some landlords might be inclined to reappraise the viability of their portfolios.”

Read the UK Finance update released 16th January 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.

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