“Month-on-month rises in lending to home owners, movers, first-time buyers (FTBs) and landlords are a positive sign of the strength of the UK’s housing market. November saw the highest level of gross buy-to-let lending since the changes to stamp duty in April, and the month-on-month rise in FTB lending echoes our own research that shows uncertainty in the market has largely left the purchase plans for those looking to get on the ladder in the next 12 months unaffected.
“The slower rate of house price growth this year should be a boon to those looking to buy their first property, but the continued difficulty for those struggling to raise a deposit is likely to continue in 2017, particularly with the closure of the Help to Buy: Mortgage Guarantee scheme. Several lenders, including Aldermore, have reaffirmed their commitment to supporting those with smaller deposits, but the falling number of high LTV products on the market will be of concern for those who had previously planned on using the scheme.”
For further information, journalists can contact:
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Notes to Editors:
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