House Purchasing Lending Falls - CML

House purchasing lending fell 1% in January, whilst buy-to-let loans increased from 11% compared to 2014, according to data released by the Council of Mortgage Lenders (CML).

A total of 40,600 house purchasing lending loans were advanced, down 1% in January 2015 and 16% compared to January 2014.

Whilst buy-to-let loans were down 13% to 15,900, this was an 11% increase from the same period in 2014.

Overall, house purchasing lending loads totalled £6.8bn, down a total of 3% in January and 13% on February last year.


Buy-to-let loans came to £2.2bn in overall value, down 12% compared to January but up 16% from February 2014.

Paul Smee, Director General of the CML, said: "As with January, seasonal factors have played their part in dampening house purchase lending activity in February. This typical seasonal trend may also be exacerbated by uncertainty ahead of the general election, but we still expect to see an upturn in the spring and summer months.

"Buy-to-let, in contrast, has shown year-on-year lending increases, due almost completely to remortgaging which is typically strong in the buy-to-let market."

Data for March 2015 will be released on Tuesday 19th May 2015.

For more information, visit www.cml.org.uk/cml/media/press/4183

(LM/CD)