The Council of Mortgage Lenders (CML) has published figures showing that house purchase lending was up 22% in June. Home-owner remortgage activity increased by over a third month-on-month and year-on-year. House purchase lending in June saw a substantial month-on-month increase with over 20% more loans being advanced to purchase a house compared to May.
Paul Smee, director general of the CML, commented: “Notable this month is the uptick in remortgage activity among home-owners, perhaps reflecting an increased desire to lock into competitively-priced mortgage deals in advance of any rise in rates. It is likely that people are now beginning to feel a rate rise is a realistic prospect, and not just a distant theoretical possibility.
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