21
Jul
House buying 'leads the market'
People buying houses for sale made the most enquiries to mortgage
adviser John Charcol last month.
Recent findings from the firm showed that six out of ten mortgages
in June were house purchases, suggesting that people are gaining
confidence in the property market.
Director of marketing at the company Drew Wotherspoon said:
"Purchase activity continues to maintain dominance over
remortgaging, as it has done for the last 12 months."
He added that the only time remortgaging was a more common enquiry
was in February but he attributed this change to the "poor
weather," saying that it kept "purchasers tucked up indoors".
Mr Wotherspoon expressed his optimism that new purchasing enquiries
were leading the way in the property market and recommended that
homebuyers get advice before taking out a new mortgage.
The Council of Mortgage Lending supported John Charcol's
findings.
Its recent report showed that lending for home loans rose by 15 per
cent over June, going from £11.4 billion lent in May to
£13.1 billion a month later.