In the UK the total volume of mortgage loans fell by 12%

Sept. 20, 2016

In the UK the total volume of mortgage loans fell by 12%

In July 2016 in British banks significantly reduced the volumes of mortgage lending at an average rate of 12% compared to the same period of last year. This information is given by the CML – British Council of mortgage banks.


The number of received in July mortgages stayed at around 58.1 thousand. In comparison with the first summer month of the 2016 the mortage amount in July was also down by 13%.


On the one hand, experts expect a decline in investment activity due to the Brexit. On the other, now the potential buyers are more passive because of the emergence of a new tax on the purchase of second homes. Thus, the amount of credits issued to those who already own the property, fell by 21%.

Based on the materials of rosbalt.ru

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