CML reports seasonal dip on lending

Published on

Council of Mortgage Lenders
The total number of home-owner loans for house purchase in January 2014 was down 16% compared to December 2013 but up 30% on January 2013, according to the CML.

The usual seasonal dip saw the number of first-time buyers and home movers fall in January compared to December 2013 but both increased substantially in comparison to a year previous in January 2013.

Remortgage lending in January was up 10% in volume compared to December and also up 16% compared to January 2013.

Buy-to-let lending for house purchase increased 11% in January in volume compared to December 2013. Buy-to-let remortgage lending also increased 6% compared to December.

The Bank of England reported earlier this month that UK gross mortgage lending was £16.1 billion in January, which due to the expected seasonal dip was down slightly by 4% compared to December 2013 but up 39% compared to January 2013.

Paul Smee, director general of the CML, said: “January is always a subdued month in the mortgage market but the underlying trend and strong year-on-year growth across all borrower groups indicates a strong start to 2014 continuing the sort of lending levels seen throughout 2013.

“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.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...

International demand for UK property investment ‘more diverse than expected’

The UK property market is attracting investment from a much broader range of international...

Accord Mortgages makes widespread buy-to-let cuts

Accord Mortgages is reducing rates across to its buy-to-let product range by up to...

The Cumberland partners with FareShare to combat Glasgow food poverty

The Cumberland Building Society’s commercial team has partnered with FareShare Glasgow and the West...

Other news

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...

International demand for UK property investment ‘more diverse than expected’

The UK property market is attracting investment from a much broader range of international...

Accord Mortgages makes widespread buy-to-let cuts

Accord Mortgages is reducing rates across to its buy-to-let product range by up to...