It would appear that after a slow start to the year the number of property transactions in the capital has increased, with £6.1bn borrowed, which equates to 17% growth in the period.
Mortgage Introducer reported:
First-time buyers borrowed £3.1bn, up 10% on the first quarter and 8% on the second quarter last year. This equated to 10,600 loans, up 5% quarter-on-quarter and 3% year-on-year.
Paul Smee, UK Finance head of mortgages, said: “Home buying in the capital bounced back from the traditionally subdued beginning of the year, with both first-time buyer and home mover lending showing growth both on the first quarter of 2017 and on the same period a year ago.
Original article here:http://www.mortgageintroducer.com/london-market-rebounds-q2/#.WZ2jiZOGMWo
This shakes off some of the nervousness which was gathering regarding the London market potentially hitting a downturn, and hopefully this will help to reinvigorate the property finance sector where clearly there were some concerns.
from Hertfordshire Business Funding https://www.hertfordshirebusinessfunding.com/london-property-market-rebounds-in-q2/
via https://www.hertfordshirebusinessfunding.com
