FREE tenancy agreement
FREE landlord softwareCML Director Paul Smee believes a slowing in the BTL market activity will mean overall lending will plateaux during the next few years.
‘Overall, the mortgage market remains resilient but is likely to plateau rather than grow much for the next couple of years. Gross lending is likely to hover around the £250 billion mark in 2016, 2017 and 2018. Property transactions look set to drift down slightly, although we do not expect house prices to fall, and net lending seems unlikely to get above £30 billion next year.
We expect any modest strengthening in home owner lending to be rather offset by a less active house purchase market in buy to let, as both tax and regulatory changes bite on landlords.
Our forecasts are more pessimistic about the future than a year ago, partly relating to the economic uncertainty from the European Union referendum, but also because of tax and regulatory changes in the housing and mortgage market.’
We expect any modest strengthening in home owner lending to be rather offset by a less active house purchase market in buy to let, as both tax and regulatory changes bite on landlords.
Our forecasts are more pessimistic about the future than a year ago, partly relating to the economic uncertainty from the European Union referendum, but also because of tax and regulatory changes in the housing and mortgage market.’
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