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The number of first-time homebuyers increased in May, while the number of new mortgage leases declined, a sign that government policies and tax changes are rebalancing the housing market.
There were 32,200 new mortgages completed for new buyers during the month, 8.1% more than in May last year. According to figures from UK Finance, a pressure group for the financial services sector, the 5.4 billion new loans increased by 12.5%.
The first average buyer in the UK is 30 42,000 and takes a loan of £ 142,452 to a loan at the value of 85%. Government programs such as purchasing badistance and shared ownership have helped some people gain access to the property scale, which would not have been possible otherwise.
However, the number of new mortgage loans declined 9.8% in May from a year earlier to 5500. Loans were £ 700 million, 22% lower than the same month last year.
"The mortgage market is experiencing a pre-summer boom, driven by an increase in the number of first-time buyers and a strong remortgage activity," said Jackie Bennett, Mortgage Director at UK Finance.
[19659002] "Meanwhile, purchases in the buy-sell market continue to be hampered by recent regulatory and tax changes, the full impact of which still needs to be fully felt."
The figures suggest changes to the stamp duty the government in April 2016 cool on the buy-to-let market. Anyone who buys a second home for any reason now has to pay a higher stamp rate than someone who buys a property that will be their primary residence.
Despite the increase in the number of new homebuyers in May, Bennett said, "affordability remains a challenge for some potential homebuyers and this translates into a gradual increase in lending to income multiples. ", did she say.
The move also increased in May, with 31,100 new mortgages delivered at home, up 4.4% from the previous year. The average remover has a gross family income of £ 55,000 and a loan to the value of 73.6%, according to UK Finance.
Jonathan Samuels, the general manager of the real estate lender, Octane Capital, said May's loan data was a "perfect snapshot" of the changes in the UK housing market in recent years.
while the amateur owners beat a fast retreat. In the context of the purchase and sale, it is mainly to remap existing portfolios or properties in order to maintain a margin.
"While professional owners and institutional investors remain active, amateur property owners are quickly becoming an anachronism.
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