|John Phillips at Just Mortgages comments on the latest CML figures|
|Thursday, 20 April 2017|
John Phillips, group operations director at Just Mortgages and Spicerhaart says, “It is promising to see that gross mortgage lending in March increased by 19%. It was of course going to be lower than the previous March due to the influx of borrowers rushing to beat the increase in stamp duty for buy-to-let and second homes.
“First-time buyer and remortgaging activity still appear to be driving the market forward, with mortgage accessibility in the UK reaching a three year high. It is clear that the growth in remortgaging has been supported by cheap borrowing rates while first time buyers are increasingly using the Bank of Mum and Dad. Due to some economic and political uncertainty, it is likely that home movers and buy-to-let landlords will continue to take a backseat for the time being, but I am confident that the snap general election will help to ensure a sense of stability for the country going forwards.”
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