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Mortgage Advice Bureau (Holdings) Plc

Mortgage Advice Bureau: UK Finance Monthly Lending Trends

Looking back on May, the Finance Monthly Lending Trends showed:

  • Purchasing volumes remain normal for first time buyers and homemovers
  • Remortgaging figures appear to be steady
  • Slight increase in buy-to-let borrowing

Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:

The latest data from UK Finance this morning provides us with what would appear to be a reasonably calm picture with regards mortgage lending in May; Home movers and First Time Buyers were still purchasing at volumes we’ve come to expect as normal over the last few months, remortgaging figures appeared to be steady and there was even a slight increase in Buy-To-Let borrowing, albeit driven by landlords remortgaging rather than purchasing.   Of course, any year on year comparison are inevitably skewed due to the ‘bubble’ caused in Q1 of 2016 from the changes in SDLT rates being introduced, but when reviewed in the context of 2017 alone, the figures would suggest that, as far as the UK public are concerned, the attitude in May was very much ‘business as usual’ with those who needed to transact doing so.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.