House Buying Confidence Rises As Mortgage Lending Reaches Seven Year High

A National shortage of properties and low interests rates have been highlighted as reasons for a predicted growth in the mortgage market in 2016.

This follows recent figures from the Council of Mortgage Lenders which reveals that mortgage lending in the UK reached a seven-year high last year.

Homeowners borrowed £220.3bn in mortgages in 2015, representing the highest level since 2008 and an eight per cent rise on the previous year.

Research showed that lending in December, traditionally a quiet month, reached £19.9bn, a 23 per cent rise year-on-year.

And coupled with the availability and popularity of the Help to Buy scheme, this marks continued good news for new homes developers, like Linden Homes Midlands.

Sales director Clare Phillips said: “News that the mortgage market is buoyant is always welcomed. And despite the warning from some financial experts that house prices are out of reach of some first buyers, the Help to Buy scheme is available to help ease the burden on them and other movers when it comes to finding a deposit.

Arranging a mortgage can seem like a daunting task, but at Linden Homes we work very closely with New Homes Mortgage Helpline, the leading new homes mortgage specialist in the UK. They are able to provide guidance to our customers in finding them the most affordable and suitable mortgage for their new home.”

And with a number of new developments coming on stream during 2016 – including at locations at Hamilton in Leicestershire, Milton Keynes and Burton Latimer in Northamptonshire – there is now even more opportunity to buy a brand new home.

House buying confidence rises as mortgage lending reaches a seven-year high. Now is a great time to buy say Linden Homes Midlands.
House buying confidence rises as mortgage lending
reaches a seven-year high. Now is a great
time to buy say Linden Homes Midlands.

-ENDS-

For further press information please contact Cetti Long at Media Matters on 01733 371363 or email cetti@mediamatters-pr.co.uk

03 February 2016

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