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Commercial Credit News
|Comment on CML trends in lending for September from Richard Pike, Phoebus Software|
|Wednesday, 16 November 2016|
Richard Pike, Phoebus Software sales and marketing director, says “The effect of the slow down on buy-to-let purchases continues to weigh on the overall market with the quarterly statistics showing a 19% reduction on the same quarter 2015. This is unlikely to change any time soon as landlords continue to assess the return on their investment, against the costs.
“We are more than likely in for a bumpy finish to the year as movers and buyers grapple with rising house prices and the inevitable uncertainty surrounding our exit from the EU. The internal politics in government regarding the process for leaving the EU is doing nothing to instil confidence, but it is something that we are all going to have to live with for a while. I think that low borrowing rates will mean the only area where we are likely to see growth in the coming months is in the remortgage market.”
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