The CMLs Regulated Mortgage Survey for November 2013 shows that there was a slight slowdown in November against October figures. However overall November was still a strong month

CML Gross Mortgage LendingThe CMLs Regulated Mortgage Survey for November 2013 shows that there was a slight slowdown in November against October figures. However overall November was still a strong month:

Key Facts

  • Total loans advanced in November declined by 3% compared to October. The figure however was the fourth highest monthly figure since December 2007
  • Home movers took out slightly fewer loans, a decline of 2.4% against October
  • First time buyers had 27,000 loans in November, up very slightly in volume by 0.7% against October. This was however up 24% up against a year earlier.
  • The loans for home-owner remortgages fell by 3% over the month but was up 4% against November 2012

Buy to let lending totalled 16,200 loans – unchanged from October – with a value of £2.1bn, which was also unchanged.

Within this the loans for house purchases was down to 8,400 loans, a fall of 1.2%. They had a total value of £1bn.

The buy-to-let loans for remortgages however increased slight to 7,700, an increase of 1.3%, with a value of £1.1bn.

Paul Smee, director general of the CML, commented:

“The Bank of Englands credit survey reported demand in the final quarter of 2013 for house purchases was rising at its fastest pace since the survey began in 2007. This is a significant shift in public mood and, with strong November lending continuing the year-on-year growth seen since April 2013, this should be expected to continue into the New Year.”