House Purchase Lending up 30% Year on Year

Limetree Financial Services Limited

House Purchase Lending up 30% Year on Year

We’ve talked a lot about the market waking up recently. We now have some exciting numbers to share too.

The Council of Mortgage Lenders (CML) recently released figures which say that loans for buying houses went up 30.3 per cent in January (compared to 2013).

In numbers, that means there were 48,600 loans compared with 37,300 last January. The really good news is that this is reflected across several important sections of the market, including first-time buyers and those buying to let.

CML director general Paul Smee summed it up:

“Lending to first-time buyers and home movers has continued its upward trend and this, coupled with the growth in remortgage and buy-to-let activity, would suggest that all parts of the market are open for business.”

As business continues to pick up, we expect property values to be rising and lenders competing for market-share. We’re already seeing this in competative interest rates, special offers, and fee reductions. A growing market means increasing choice and better deals for both buyers and sellers. So give us a ring, and we’ll talk about how your own situation fits the market.

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