Steady levels of mortgage activity continued into July says UK Finance

Latest news release from UK Finance 25th August 2017-  High Street Banking and Gross Mortgage Lending data July 2017

UK Finance  estimates that overall gross mortgage lending in July was £23.0 billion. Accounting for seasonal factors, this figure is above the average lending figures seen over the past year.

First-time buyers and remortgage activity on the part of homeowners has supported lending for some time, but we anticipate the pace of growth to slow slightly, dampened by a potentially more challenging economic outlook.

Commenting on the data, Eric Leenders Head of Personal Banking at UK Finance said:

“Consumer borrowing from high street banks remained stable in July, as continued pressure on household budgets reduced spending and saving.

“It is business as usual for business lending as companies continue to borrow less and build their reserves, increasing deposits at an annual rate of 7.5%, while larger corporates are using the capital markets for funding.

“Steady levels of mortgage activity seen through the first half of the year continued into July.  First-time buyer numbers continue to be strong, helped in part by government schemes. But that has been offset by home movers, where a shortage of homes on the market is limiting their activity.”

Read the UK Finance High Street Banking and Gross Mortgage Lending data July 2017 report 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

Estate Agent Talk

How can Cash House Buying Agencies thrive in 2022?

Like many other industries in the world, the UK property market is constantly evolving. Industry players therefore need to keep a keen eye on the key markers that define the state of the industry. As 2022 ushers in new changes and realities, industry players like cash house buying agencies need to arm themselves with current…
Read More
composite gates
Home and Living

Composite Garden Fencing / Gates – Pros & Cons

As much as many of us enjoy great relationships with our neighbours, we do also relish privacy between our properties / boundaries. Years ago I remember rows of gardens with no more that a wire fence with wooden posts separating each with some having missing sections and even those totally without. Many neighbours would have…
Read More
Breaking News

BREAKING PROPERTY NEWS – 30/06/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   Zoopla names new members of its Lettings Advisory Board, selected to support its goal to help inform how industry responds to a fast-evolving policy environment for agents, landlords and renters Zoopla, the UK’s most comprehensive property destination, is pleased to announce new members of…
Read More
Estate Agent Talk

Why Your Multifamily Building Needs An Access Control System

Being responsible for a multifamily building requires keeping safety a priority. Security can be a concern in a building with multiple people coming in and out, which is why your multifamily building needs an access control system. There are many reasons why an access control system can be of use to a dwelling with more…
Read More
empty property uk 2022
Estate Agent Talk

How many empty homes are there in England?

The total number of empty dwellings as at 13 September 2021 was 468,000 – a decrease of 11,000 or 2.4% on the previous year as quoted on the official government website: Local Authority Council Tax base England 2021 Long term empty homes are dwellings which are unoccupied for a period of 6 months or more…
Read More
Breaking News

New Research from TwentyEA Shows Available Stock Has Almost Halved Compared with Five Years Ago

Despite the fact that UK inflation has hit a fourty year high of 9%, agents across the UK are still seeing demand for properties outstripping supply, with new instructions largely flat during May, according to a recent RICS survey in June 2022. The RICS survey also suggests there is little prospect of more homes coming…
Read More