60 0 0 1 .1 top 90% bottom 60% true 360 180 none .05
Skip to content

estate agent networking

ADVERTISE TO 200,000 PROPERTY PROFESSIONALS

One of the UK's leading Property News Channels with 1,000's of Estate Agency Members. Increasing Service Provider Visibility, Influence and Lead Generation.

Advertise Contact Us

Substantial increase in remortgage lending

March 11, 2016

The Council of Mortgage Lenders (CML) data shows on an unadjusted basis, lending in January.

Home-owners borrowed £8.4bn for house purchase, down 25% month-on-month but up 12% year-on-year. They took out 46,200 loans, down 27% on December but up 5% on January 2015.

First-time buyers borrowed £3.3bn in January, down 27% on December but up 14% on January last year. This totalled 21,400 loans, down 28% month-on-month but up 6% year-on-year.

Home movers borrowed £5.1bn, down 24% on December but up 11% compared to a year ago. This totalled 24,800 loans, down 26% month-on-month but up 3% on January 2015.

Home-owner remortgagors borrowed £5.8bn, up 35% on December and 32% compared to a year ago. This totalled 33,100 loans, up 28% month-on-month and 19% compared to a year ago.

Landlords borrowed £3.7bn in January, up 9% month-on-month and 42% year-on-year. This came to 23,100 loans in total, of which 13,400 were for remortgage, up 3% compared to December and up 31% compared to January 2015.

To see the 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

Damaged timber from Dry Rot
Estate Agent Talk

Mould and damp – what you need to know ahead of winter

With the winter months just round the corner, problems with damp and mould can become far more prominent. Autumntime is when many people turn on central heating systems and choose to close windows, preventing fresh air ventilation needed to allow damp air to leave a property. Unfortunately, the combination of warm and damp air can…
Read More →
Breaking News

Rental price and average salary tracker – September 2025

London and South East see biggest dips in required rental salary year-on-year London and the South East saw the sharpest dips year-on-year in the average salary needed in order to rent the average home in that area. London saw a 4.2% drop, whilst the South East saw a decline of 2.9%. Yorkshire and Humberside saw…
Read More →
buying at auction uk
Breaking News

The cities where buying beats renting – with just a 5% deposit

British first-time buyer mortgage payments are typically 17% cheaper than renting, even with a low 5% deposit The average 5% deposit is £11,412 based on a typical first-time buyer property price of £228,233 Among major cities outside London, the biggest gap between owning and renting is in Glasgow, where buyers could save more than £4,750…
Read More →
Rightmove logo
Breaking News

Rightmove’s Weekly Mortgage Rates Tracker

Average rates for 2-year and 5-year fixed-rate mortgages   Term Average rate Weekly change Yearly change 2-year fixed 4.51% +0.00% -0.37% 5-year fixed 4.55% +0.01% +0.01%   Lowest rates for 2-year and 5-year fixed-rate mortgages   Term Lowest rate Weekly change Yearly change 2-year fixed 3.77% +0.05% -0.07% 5-year fixed 3.97% +0.10% +0.29%   Average…
Read More →
Rightmove logo
Breaking News

Data and commentary from Rightmove on stamp duty reforms

Colleen Babcock, Rightmove’s property expert said: “We’ve been calling for stamp duty reform for some time now, as it’s a significant barrier for many people moving home. Abolishing it completely would remove one of the biggest barriers to moving, unlocking more moves at all stages of the property ladder. “Our data shows that only 5%…
Read More →
Breaking News

Second-time buyers dominate demand for longer term fixed mortgage deals

Second-time buyers are dominating demand for longer term fixed mortgage deals, fresh data from Moneyfacts Analyser can reveal. Of those looking for fixed term deals on moneyfactscompare.co.uk: Almost two-thirds (58%) of second-time buyers who compared mortgage deals using the moneyfactscompare.co.uk website were considering terms of three years or longer in the 30 days to 1…
Read More →