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Commercial Credit News
|Comment on CML's June trends in lending from Richard Pike at Phoebus Software|
|Wednesday, 10 August 2016|
|Richard Pike, Phoebus Software sales and marketing director, says “The mortgage market was in good shape before the EU referendum having bounced back from the initial hit following stamp duty changes for buy-to-let in April, and first time buyers took up the slack as landlords held back. As we move forward in what is undeniably a more unpredictable economic future it is difficult to foresee the next few months showing the same levels. However, with the cut in interest rates, and Mark Carney’s implicit direction to lenders to pass on the reduction, we may yet see consumers tempted into the market; for first time buyers the cut has made affordability less of a challenge and for those with capital property could be a way to reap higher rewards than other forms of investment.”|
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