Buy to Let lending and home-owner purchase up in July

The Council of Mortgage Lenders reported increases in July for the Gross UK Mortgage Lending, up to £16.7 billion – 12% increase from June and 29% since last July.

CML Gross Mortgage LendingThe Council of Mortgage Lenders reported increases in July for the Gross UK Mortgage Lending, up to £16.7 billion – 12% increase from June and 29% since last July.

Key Figures show:

  • Buy to let loan totals were up 12% compared to June at 15,200
  • Within this, 7,600 buy-to-let loans in July were for house purchase, up by 7% compared to June.
  • Home owner purchase lending continuing to grow, up 9% from June and 21% from July 2012.
  • First time buyers loans up by 5% from June and 41% compared to July last year.
  • Home owner remortgaging continued to pick up over the year, however this remains subdued compared to historical volumes.  
  • On the flip side the buy to let remortgage lending grew , increasing by 24% compared to June to £1.1bn.

Written by Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

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