With the eyes of the UK firmly fixed on Brexit and the effects it may have in relation to the housing market, much has been said and forecast of slumps and downturns in activity. However, at One 77 Mortgages we are happy to report the opposite with our month on month business continuing to grow across all elements of the property finance market.
To confirm our own findings a recent data release has shown a 5.8% increase in first-time buyers in the year to November 2018. In addition the value of this new lending also increased by over 9% to £6bn from £5.5bn the previous year.
It was good news from those moving house for the first time as well. New homemover mortgages completed during November 2018 also increased from 39,600 to 39,100, with the value of this new lending rising by 1.3%.
Buy-to-Let remortgages also saw growth with 15,000 new completions during November with an increase of lending from £2.2bn to £2.4bn – a rise of 9.5%.
With this continued good news from lenders, estate agents and brokers alike – it looks like any uncertainty reported in the press around the UK housing market is at this point, speculative at best.
To discuss your mortgage requirements – whether first time buyer or seasoned developer – give us a call today on 01249 474952 or fill out the form below and we will be in touch.