News
From Remortgaging
January Gross Lending
January saw gross mortgage lending up to £26.5bn compared to £23.9bn in December these figures are according to the Council of Mortgage Lenders.
January 2007 saw figures of £26.6bn meaning that January 2008 was only slightly behind. It is predicted by the Council of Mortgage Lenders that gross lending will fall during the next few months due to less mortgage approvals at the end of last year.
It is also felt that there will be more call for remortgaging than house purchase at least at the beginning of the year. It was also thought that more people would be inclined to purchase homes if the costs were lower and this could be done in the next Budget by lowering the rate of Stamp Duty and raising the Stamp Duty thresholds.
