Deloitte comments on CML’s mortgage lending statistics for January 2015

Zahir Bokhari, Head of Banking, Deloitte:

“January is typically one of the quietest months for mortgage lending, but the CML’s figures for January 2015 today note a modest increase in both buy-to-let lending and remortgaging. Whilst this suggests that people continue to take advantage of current low interest rates amidst anticipated future rises, it is in contrast to a lending drop this month to first time buyers and home movers. 

This divergence is perhaps illustrative of continued uncertainty over personal economic prospects, amplified by the unpredictable nature of the upcoming general election.

Despite this, we forecast that the effect of seasonality will more than offset continued market uncertainties leading to increases in lending volumes in the second quarter of the year.”

End

Notes to editors

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