Economy news October 27, 2016
     

Council of Mortgage Lenders Figures

CML figures show an increase in lending 

The latest figures from the Council of Mortgage Lenders reveal that mortgage lending in the residential market has risen over the last year.

First Time Buyers borrowed £5.1bn in August, an increase of 24% on this time last year, while lending to home movers increased by 3%. 

Remortgage activity amounted to £5.9bn, representing a significant increase of 41% compared to last August.

These figures certainly indicate that appetite among borrowers is still strong. The CML say this is likely to continue over the coming months, with mortgage rates ticking along at near-record lows following the base rate cut in August.

By contrast the report also reveals that Buy to Let lending is down 12% year on year, a drop which is to be expected given the changes to stamp duty on second properties this year, and the upcoming tax changes next 

End of Help to Buy

Halifax Relaxes Interest Only Criteria

Starter Home Initiative

Fee Free Mortgages

Contact us

About us

Hurfords is a trading name of Sharman Quinney Holdings Limited which is registered in England and Wales under company number 4174227, Registered Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. VAT Registration Number is 500 2481 05.

For activities relating to regulated mortgages and non-investment insurance contracts, Sharman Quinney Holdings Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority. Connells Limited’s Financial Services Register number is 302221.

IMPORTANT: If you are selling a residential property in the UK that is not your primary residence, you should check your capital gains tax liability. Find some useful links to more information here.

FAQ's

Material Information

Privacy policy

Modern Slavery Act


Update Cookies Preferences