Home lending slowdown in UK

fixed-mortgageHome lending in UK has become low. This slowdown is because of some of the most attractive mortgage deals ever being available thanks to historic low interest rates. According to the Council of Mortgage Lenders, it is those taking advantage of these that are keeping the market going.

CML senior economist Mohammad Jamei: “The home mover activity has been subdued for some time as the lack of supply affects the housing market, First time buyers and remortgage customers appear to be consoling the market, as low mortgage rates are encouraging borrowers to remortgage and attractive Government schemes are helping first time buyers, We expect this trend to continue over the coming months. The low number of movers means fewer properties for sale. This supply and demand imbalance will continue to underpin house price values, even as the rate of price rises slows.”

Leave a reply

Your email address will not be published.

Back to home page