High street gross mortgage lending up 6% on last year - Mortgage Solutions (registration) (blog)

High street gross mortgage lending up 6% on last year – Mortgage Solutions (registration) (blog)

Figures, reflecting yearly UK property transactions, are showing some moderate upswings. High street banks, across the land, showed gross mortgage loans were up more than 5 percent, while net borrowing was up about half that. Mortgage approval numbers, however, were flat, with remortgages doing even worse. Low gains, which are viewed against a Brexit and election backdrop, cause some analysts to remain sanguine, especially given the new incentives for property buyers and the continued interest shown by such buyers.

Key Takeaways:

Gross mortgage lending is up by 6% on last year. That is a significant increase that needs to be considered.
The implications of Brexit may continue to influence consumer decisions. Watch the market to monitor its performance across categories.
Market insiders are waiting to see if the election has an impact. People want their leaders to make sound decisions if possible.

“Gross mortgage lending from the UK’s high street banks totaled £13bn in June, up by six per cent year-on-year, according to new figures from UK Finance.”