“After the significant increase in buy-to-let lending ahead of the stamp duty changes, there is an obvious downward trend in almost all lending categories month-on-month. While buyers looking to expand a portfolio or buy their first house may be taking a wait and see approach around external factors such as the referendum, remortgage activity has been extremely robust. While the month-on-month data has been somewhat volatile, it is worth noting the wider trends in the market, with data from the Bank of England on the first quarter of the year showing buy-to-let lending accounted for 21 per cent of all loans, surpassing first time buyer lending for the first time since the financial crisis.”
For further enquiries, journalists can contact:
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Johnathan Priestley, Cicero Group
Phone: 0207 297 5971
Notes to Editors:
Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.
Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.
Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.
Established in 2009, Aldermore has grown significantly. At the end of March 2016, lending to customers stood at £6.5 billion and customer deposits totalled £6.2 billion.
For more information, please visit www.aldermore.co.uk.
Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.