In the UK, record levels of mortgage lending

Total amount of the mortgage loans in the UK has reached the sum of £19,9 billion in December. This was 3% less than in November, but annual growth in 2015 amounted to 23%.

The data presented Council of Mortgage Lenders (CML) show that the total amount of loans reached £220,3 billion a year and showed the highest increase since 2008.

The total size of mortgage loans for the 4th quarter of 2015 amounted to £62,3 billion. This was 1% more than in Q3 2015 and 23% more than in the 4th quarter of 2014.

The end of the year the mortgage market was more productive than the beginning of the year. In the beginning of the year the real estate market of the United Kingdom was inhibited by pre-election concerns and the introduction in late 2014 of a new scale of stamp duty. However, in the second half of 2015, the demand for mortgage lending in great Britain increased and was the best in recent years.

Low inflation, amid improving labour market and rising wages contributed to the increase in demand for residential property. Meanwhile, the level of supply of new housing remains extremely weak. High activity, shape demand, presses on the market, providing a boost to prices.

The element of uncertainty in 2016 will be the impact on the property market in the UK increased rates of Stamp duty for investors “buy to let”.

The end of 2015 was marked by the announcement of the new rules of Stamp duty without further details. The first quarter of 2016, will likely shake up the number of transactions for the purchase of a second home or deals for investment that will significantly increase the demand for mortgage lending, as the new order will be introduced on 1 April. However, after April 2016, the interest in available residential property in the UK will be fed by the government, schemes of assistance to buyers of their first house “help to buy”. In addition, the General state of the UK economy and still low interest rates will contribute to maintaining a high level of demand for mortgage loans. The main issue in 2016 will remain the low level of supply of housing, when everyone who decides to take a mortgage loan, will be difficult to choose the right housing in a limited number of choices to select from.

Thus, many people in 2016 have a higher chance to solve their housing problems and move into your own home.

® Helen Entree. G. 08.01.2016

Mortgages in the UK

Property Wales

The apartment is three bedrooms South Lancaster

Property Of Coventry.

A Real Estate Salisbury (2)

Houses and apartments in Cambridge