Re­mort­gag­ing boom time

Yorkshire Post - Property - - PROPERTY NEWS -

LEND­ING: Home buy­ers bor­rowed £127.7bn in 2016, up seven per cent on 2015. First-time buy­ers bor­rowed £53.2bn, which was a rise of 13 per cent. Home movers took out 360,300 loans, down two per cent, while home-owner re­mort­gage ac­tiv­ity was up 14 per cent by vol­ume and 20 per cent by value. The num­ber of re­mort­gage loans was at its high­est since 2009. Paul Smee, di­rec­tor gen­eral of the CML, says: “2016 could have been a po­ten­tially desta­bil­is­ing year of reg­u­la­tory and po­lit­i­cal change, but the mort­gage mar­ket has been re­silient and adapt­able. We ex­pect ac­tiv­ity in 2017 to re­main sim­i­lar to that achieved in 2016.”

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