Qualified advisers answering your
Financial Questions
call 0800 092 1245

BBA confirms increased mortgage lending in May

The British Bankers Association (BBA) has today confirmed that May saw an increase in mortgage approvals compared to April and March. When you consider that members of the BBA account for around 75% of new mortgages in the UK the indication is that UK mortgage lending continues to recover. So how will this impact upon the UK property market?

While there is no doubt that property prices and property markets have been influenced by the economic situation in the UK, there is also no doubt that a lack of liquidity in the mortgage market is holding back many potential buyers. New buyers have been effectively barred from the market up until lately due to ever tougher lending guidelines from UK mortgage lenders aimed at reducing their risk in the short to medium term - which has inadvertently affected the first-time buyer market.

Despite the fact that the UK government announced a banking levy yesterday which is expected to raise around £2 billion a year many believe that the UK mortgage arena will continue to grow and deals for first-time buyers should become more commonplace. Many unexpected the UK government to introduce a levy of around £5 billion a year but thankfully the lower level will allow mortgage providers to retain significant liquidity within the marketplace.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details