Martyn’s comments on todays MLAR rate…
Some good news for the mortgage market! 📰 The share of mortgages lent to first-time buyers in the first quarter of this year reached 31.4%, the highest level since records began in 2007, the central bank has said. 📈 Our CEO, Martyn Smith, shared his view: “The latest MLAR data paints a nuanced picture of the mortgage market’s recovery. On the one hand, the sharp rise in gross
Why It Matters
advances and outstanding mortgage balances signals growing confidence among borrowers and lenders alike. But dig a little deeper, and we see a market still feeling its way forward. “The surge in lending to first-time buyers is encouraging, showing that pent-up demand is being unlocked — yet the dip in remortgaging and softening in new commitments suggests many homeowners
How It Applies
remain cautious, likely waiting for greater rate stability. “From a specialist lending perspective, the uptick in high LTV borrowing — now at its highest level since 2008 — speaks to a growing appetite for risk and the increasing importance
Key Takeaway
of lenders who can handle more complex cases. But this must be balanced against a rise in possessions, which is a warning that affordability remains under pressure for many households.
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