CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow Gross mortgage lending stable - but positive signs remain - commentary from IRESS
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Gross mortgage lending stable - but positive signs remain - commentary from IRESS PDF Print E-mail
Thursday, 17 November 2016
The Council of Mortgage Lenders (CML) has this morning issued a release estimating that gross mortgage lending held steady at £20.6 billion in October, up very slightly on September’s figure of £20.5 billion. 

Responding to the CML release, Henry Woodcock, principal mortgage consultant at IRESS, said: “Over the last four years, gross mortgage lending in October has shown a trend to be strong, with last year’s lending figures the highest since July 2008. Recent market conditions and indicators all showed positive signs, so the expectation was that the market would continue grow, which it has, but surprisingly, only by a very small amount.

“The outlook for both homebuyers and existing homeowners is still looking positive, thanks in part to the Bank of England's decision to cut interest rates to 0.25% back in August. Mortgage affordability has reached its best level since records began, with monthly mortgage costs hitting a record low for home movers and first time buyers alike.

“Record low rates have also helped to offset the impact of the uptick in house prices seen in some areas of the UK during recent times. The combined effect of all of this should make buying a new home - whether for first time buyers or movers - a more achievable prospect for many people as we head into 2017.”

“I still think the mortgage market remains vibrant. Low interest rates, a levelling of house prices and continued consumer confidence have all combined to maintain market momentum.

“It’ll be interesting to see if the Chancellor has any good news for the mortgage and housing markets in the Autumn Statement. It’s expected he will confirm earlier announcements of funds towards new homes to be built by small firms, but many would like to see further investment into rental properties.”
 
Enghouse Side Banner

CSA side

 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

CSA

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