The latest CML data has revealed that during the first
two months of the year house purchase loans were at their highest levels since
2007. According to the report, this is
due to strong first-time buyer activity which has" consistently matched
home mover borrowing over the past six months, a trend not seen in the UK for
20 years". However, due to the seasonal dip in activity, borrowing was
relatively low compared to monthly activity the past twelve months. On a
non-seasonally adjusted basis, home buyers borrowed £8.9bn, up 6% on January
and 2% on February 2016. The report also highlighted that homeowner remortgage
activity fell by 26% by value and 23% by volume compared to January. Read more
on the Property Reporter website.
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