CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Buy-to-let mortgage sales up 3% in June
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Buy-to-let mortgage sales up 3% in June PDF Print E-mail
Friday, 22 July 2016
Equifax Touchstone analysis shows that June buy-to-let mortgage sales rose by 3.0% on May, totalling £2.7bn. Year-on-year however, sales were down 28.6% (-£1.1bn). 

Residential mortgage sales hit another post-2008 high, growing by 2.6% on the previous month to £13.2bn. Year-on-year, residential sales were up 4.4% with a value increase of £560m. However, the rate of growth is slowing both in the short and long term; May’s growth rate was 1.5% lower than in June, while year-on-year growth was 16.5%, down 0.4% from the May year-on-year comparison.

For residential and buy-to-let mortgage sales combined, Northern Ireland was the strongest region for sales growth for the third month in a row, with sales up 11.3% on May. Meanwhile London saw the biggest decline in sales during the month, dropping 3.8% on the previous month.

Regional area
Total mortgage sales growth in May

Northern Ireland
+11.3%

South West
+7.1%

Wales
+6.3%

North West
+4.7%

North East
+4.7%

Midlands
+4.7%

North and Yorkshire
+4.6%

Scotland
+1.9%

South East
+1.8%

Home Counties
+1.7%

South Coast
-0.2%

London
-3.8%

The data from Equifax Touchstone, which covers 92% of the intermediated lending market, shows that the average value of a residential mortgage in June was £191,577 (2015: £185,553), and £161,102 for buy-to-let (2015: £156,584).

Iain Hill, Relationship Manager, at Equifax Touchstone, said: “June was another strong month for mortgage sales, despite an anticipated drop ahead of the EU referendum. Now an exit has become a reality, the really interesting stats to watch will be the July sales. There are a myriad of factors affecting house buying decisions and people will be weighing these up very carefully before deciding to take the plunge. The market is expecting sales to fall, but the extent of the impact is much harder to predict. We anticipate that lenders will react quickly and decisively to support sales, encouraging buyers with competitive new deals at lower rates.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197