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Hope Capital's CEO comments on the latest figures from UK Finance PDF Print E-mail
Friday, 14 July 2017
Jonathan Sealey, CEO of Hope Capital says, “UK Finance (formerly the CML) recently cut the buy-to-let lending forecasts amid a ‘stalled’ mortgage market. This highlights how damage has been inflicted on the buy-to-let market thanks to the changes in stamp duty, the phasing out of interest rate tax relief, and the lack of new homes coming to the market hasn’t helped in terms of home mover activity. 

“However, first-time buyers are once again fuelling the market, borrowing £4.7bn, up on last month and May 2016, suggesting that more of these borrowers are taking full advantage of the competitive rates. Therefore, amid the low interest environment, it seems that borrowing continues to remain attractive to many, particularly those looking to take their first steps onto the property ladder, and it is these buyers who will help to keep the market buoyant.”
 
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