Property Market Stabilises with £16.5bn Mortgages in a Month
By |Published On: 24th April 2015|

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Property Market Stabilises with £16.5bn Mortgages in a Month

By |Published On: 24th April 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Property Market Stabilises with £16.5bn Mortgages in a Month

Property Market Stabilises with £16.5bn Mortgages in a Month

After a slow start to the year, mortgage lending rose by a fifth in March 2015, providers have revealed.

Banks and building societies reported that around £16.5 billion worth of mortgages were approved last month. This is a 21% increase on February figures, according to the Council of Mortgage Lenders (CML).1

This is a 7% growth on the £15.4 billion handed out in March 2014, however the first quarter (Q1) total of £44.9 billion was 3% less than in Q1 2014.

The CML’s Chief Economist Bob Pannell believes that the market is stabilising. He says: “Sentiment and activity are showing early signs of improvement and should be further supported by the effects of Stamp Duty reform.”1 

1 Sculthorpe, T. (2015) ‘Housing market stirs with £16.5bn loans in a month’, Metro, 24 April, p.32

 

 

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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