Matt Andrews, Masthaven, comments on today’s UK Finance Mortgage Lending Trends

Matt Andrews, Managing Director of Mortgages at Masthaven, comments on today’s publication by UK Finance of the latest Mortgage Lending Trends.

“Despite the looming Brexit deadline, today’s figures show that first-time buyers aren’t put off as the property sector increasingly becomes a buyers’ market. Thanks to a combination of stamp duty relief and government initiatives such as Help to Buy, the future is looking particularly bright for this segment of buyers. Remortgaging figures are likely to remain steady with little threat of impending rate rises – at least for the time being anyway.

“It is interesting to note the continued downturn of buy-to-let activity across the market. From tax alterations to regulatory updates, it seems the sector is really feeling the effects of these changes. In order to keep the market attractive to buy-to-let investors and to avoid further market uncertainty, greater incentives and lending products will be paramount.”

Kindly shared by Masthaven Bank