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Commercial Credit News
|Comment from Just Mortgages|
|Wednesday, 15 June 2016|
John Phillips, group operations director of Spicer Haart and Just Mortgages says, “Due to the recent stamp duty change and the availability of more low interest rate mortgage deals, it’s no surprise that homeowner house purchase lending was down in April. In light of the recent peak which resulted in the rush to beat the tax hike on buy-to-let, the dip in lending in the first quarter was to be expected.
“The CML’s latest figures show that although house purchase activity has experienced a sharp fall month on month, the market is still underpinned by strong fundamentals such as rising employment and improving wages, suggesting that the market will continue to grow but is likely to take several months to return to its previous levels of lending.
“Although lending will continue to be driven by movers, first time buyers and remortgage customers, I think the unknown effect of the impending EU referendum later this month will certainly weigh on activity in the coming months, as borrowers wait to see the result and its impact on the housing market.”
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