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Dear Chorlton |
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Head and shoulders above the rest |
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The amount of money being borrowed by homeowners last month
soared to its highest June level for eight years, according to
estimates.
Total loan advances reached £20.7bn, the Council of Mortgage
Lenders (CML) said.
That was 16% higher than the previous month, and 3% more than in
the same month last year.
The number of homes sold rose by 4.9% during the month, according
to separate figures from HM Revenue and Customs.
The figures reflect the run-up to the EU referendum on June 23, and
suggest that homebuyers did not necessarily sit on the sidelines
waiting for the result of the vote.
However higher mortgage lending also reflects higher house prices,
which are still rising at 8.4% a year, according to the
Halifax.
Please call my Chorlton office on 0161 882 2233 if you wish to
book a viewing on one of our fantastic properties, or if you wish
to book a FREE market appraisal on your property.
'I can't change the direction of the wind, but I can adjust my
sails to always reach my destination.'
Kind regards
Eddie Ellis MNAEA
Director
JP & BRIMELOW Chorlton
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'Fierce competition' |
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Once on the ladder, homeowners are seeing historically low costs
for home loans.
UK mortgage interest rates - already at record lows - have
fallen in the first half of the year and "show no signs of
stopping", according to Moneyfacts.
"While the economy may have faced some uncertainty after the EU
referendum one thing is for certain: mortgage competition is
currently here to stay."
More... |
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