The latest industry mortgage trend figures for the UK confirm that the property market has had a perhaps unexpectedly positive start to the year.<\/p>\n
There were 25,100 new first time buyer mortgages completed in January 2019, up 4.6% compared with the same month in 2018, according to the data from UK Finance.<\/p>\n
There were also 25,300 home mover mortgages completed in the month, up 2.8% year on year and the trends update report says that this suggests that the mortgage market has had a strong start to the year, despite ongoing economic uncertainty.<\/p>\n
The data also shows that there were 5,500 new buy to let home purchase mortgages completed in January 2019, down 1.8% year on year, signalling that there is still some contraction in the buy to let sector.<\/p>\n
The report suggests that this is due in part to tax and regulatory changes, but the rate of decline is less than in January 2018, when there was a 5.1% year on year fall in the number of buy to let home purchases.<\/p>\n
There were 47,400 new home owner remortgages completed in January 2019, down 2.7% compared with the same month in 2018.<\/p>\n
Remortgaging in the buy to let sector saw a similar drop-off in activity, with 15,800 new remortgages, a 4.2% drop from the year before. While this amounted to a year on year fall, the report says that it is worth noting that January 2018 was a particularly strong month, with the highest number of residential remortgages in nine years and the highest number of buy to let remortgages on record.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The latest industry mortgage trend figures for the UK confirm that the property market has had a perhaps unexpectedly positive start to the year. There were 25,100 new first time buyer mortgages completed in January 2019, up 4.6% compared with the same month in 2018, according to the data from UK Finance. There were also […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3384","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-SA","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/3384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=3384"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/3384\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=3384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=3384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=3384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}