UK home lending market reaches gross over £20bn in September

uk-grossThe UK home lending market has shown the gross mortgages reached £20.5 billion in September which stays unaffected by Brexit. According to the Council of Mortgage Lenders data, since 2007 this was the highest September lending figure, however lower by 7%when compared month on month. The gross mortgage lending for the Q3 of 2016 was an estimated to be £63.6 billion, which is 11% higher than the Q2 of 2016 and 4% higher than the Q3 of 2015.

Peter Williams, executive director of the Intermediary Mortgage Lenders Association (IMLA), says: “The mortgage market remains unaffected by the EU referendum result and very much open for business. The 11% increase in lending between the second and third quarters shows that borrowers weren’t put off by the EU results and lenders haven’t covered up their need to meet the demand. September is often a month when house seekers renew their search after pausing over summer, but this year has saw the highest September figure since before the global slump. Any potential bumps in the road are unlikely to come on the supply side which could slow up activity. The simple fact remains that there aren’t enough properties coming on to the market at the moment to satisfy the demand.”

Leave a reply

Your email address will not be published.

Back to home page