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Hope Capital's CEO comments on the CML's gross lending figures PDF Print E-mail
Tuesday, 30 May 2017
Jonathan Sealey, CEO of Hope Capital says, “It’s no surprise that gross mortgage lending in April was higher than the same month last year, as buy-to-let landlords rushed to buy properties ahead of the new stamp duty rules, which resulted in a lull in the market after the 31st of March deadline.

“As more first-time buyers get onto the property ladder and remortgaging activity increases, it is becoming increasingly evident that home movers just aren’t moving. Transactions have been subdued for some time now and it’s possible that this is because they have benefitted less from government help. In turn, the lower number of movers is impacting the wider market as less properties are available.

“While it’s too early to tell what the market will be doing from June 9th onwards, we must focus on the positives. Job growth is improving with unemployment at its lowest since 1975 and other economic fundamentals are positive. Therefore, although the mortgage industry has gone through some testing times and is still facing change and uncertainty including Brexit and the snap general election, the market has remained resilient. It’s possible that the market will remain steady over the coming months thanks to consumer sentiment, attractive mortgage deals and strong demand for home ownership.”
 

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