Press response to CML's gross mortgage lending statistics to October
Thu 11 Dec 2014
Peter Rollings, CEO of Marsh & Parsons, comments:"First-time buyers are the lifeblood of the property market and so it is encouraging to see the number of people fulfilling their home-ownership aspirations increase steadily in October. These figures obviously dont incorporate the influence of the Stamp Duty reforms announced last week, so we could well see further growth in subsequent instalments and a bucking of the usual trend for a seasonal slowdown.
"The increase in first-time buyer activity has had a positive knock-on effect for home movers too with a growing number able to take the next step as a result. With interest rates not expected to rise until the end of next year and the market still full of competitive mortgages, and an increased amount of property, now is a great time for both potential homeowners and those looking to upgrade to make a decisive move. The Stamp Duty reforms represent an early Christmas present for many buyers and have given the property market a renewed sense of optimism as we start to prepare for next year."