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News: UK lending rises as confident buyers return

Wed, 03 Feb 16

UK lending rose at the end of 2015, according to figures from the Bank of England, as confidence remains strong in the housing market.

The number of loan approvals for house purchase was 70,837 in December, up from the average of 69,462 over the previous six months. The number of approvals for re-mortgaging was 41,708, also up from the average of 39,540 over the previous six months.

Peter Rollings, CEO of Marsh & Parsons, is enthusiastic: "Mortgage lending in December reflected some of the rejuvenated confidence radiating from buyers. After the Autumn Statement extensions to Help to Buy, and the rock-bottom base rate lasting out the year, first-time buyers were feeling decisive, and this was mirrored by a clear upswing in house purchase approvals from November to December. This energy has definitely been carried over into 2016, and January has already seen an impressive influx of motivated buyers, eager to progress up the property ladder."

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