UK Finance’s mortgage trends updated for November 2017, released this week, revealed steady increases
in mortgage lending for first-time buyers and home movers compared to the previous month and the equivalent
period in 2016.
The data shows housing market activity remains buoyant, despite November’s rise in the base rate. According to
the trade body that represents major lenders in the UK highlight that increases in lending for house purchases
together with increases in homeowner remortgages reflect a keenness among consumers to benefit from still
historically low interest rates, and a highly competitive marketplace.
In contrast, the update indicates declines in buy-to-let lending reflecting the changing regulatory and fiscal
environment for landlord businesses, which might result in some landlords being inclined to reappraise the
viability of their portfolios.