On 10th August Inside Housing reported an increase in Mortgage lending for the month of June in the run up to the EU referendum vote. This is good news for the housing industry and good news for surveying companies.
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Mortgage lending increased in June in the run up to the European Union referendum, figures published today reveal. The latest data from the Council of Mortgage Lenders (CML) shows owners borrowed £12.3bn for house purchases in June, up 12% on the same period in 2015. The number of loans also increased 8% year-on-year to 68,200 in June. The figures also show an increase in lending to first time buyers, with loans worth £5.5bn in June, up 25% year-on-year.
The number of loans to first time buyers increased 17% over the same period to 34,300. Paul Smee, director general at the CML, said: “These figures reveal growth in house purchase activity and in particular for first-time buyers. “As ever, there is uncertainty and it will take more time and patience to understand how the market will evolve in the current environment – these figures predominantly cover activity in the run-up to the referendum. We still believe that the mortgage market is well capitalised, resilient and open for business, and will remain so for the foreseeable future.”