Lending really did drop off as buyers shied away before election

Home buyers really were rattled in the run-up to the election, new figures have confirmed.

Lending for house purchase dipped badly across London in the first quarter of this year in the run-up to the election.

Lending also fell in the Celtic countries of the UK, according to the Council of Mortgage Lenders, releasing figures specifically for these parts of the UK.

In the first quarter there were 17,300 loans for house purchase in London, down 16% year-on-year. By value these loans totalled £4.9bn, a fall of 11%

In Wales, there were 5,100 loans for house purchase in Q1 totalling £630m, down 9% by volume and 2% by value.

In Northern Ireland, the number of loans for house purchase fell year-on-year by 11%, and by value down 4%.

In Scotland the number of loans for house purchase lending was down 1%, although by value increased 15% to £1.7bn.


Email the story to a friend

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.