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Commercial Credit News
|Comment on Bank of England gross lending for October|
|Tuesday, 01 December 2015|
Richard Pike, Phoebus Software sales and marketing director, says “The number and value of mortgage loans over the last three months, as reported by the Bank of England, has been fairly consistent.
"However, at £19.7bn the value is 10% lower than the £21.8bn estimated for October by the Council of Mortgage Lenders (CML) earlier this month. I will be interested to see how these figures compare when the CML’s statistics are confirmed in December and where the differences lie. The value of loans in August for instance was lower than in October but higher in number, so will it be number or value, or both?
“Following the recent spending review, and the Chancellor’s moves to curb buy-to-let in his bid to increase homeowenship in the UK, one part of the market which has been most buoyant throughout the year is likely to take a hit in the coming months. Landlords, and would-be landlords, will be considering their position and the future viability of buy-to-let.”
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