House purchase loans fell by more than three times the decline in remortgages in January, according to data released today by the Council of Mortgage Lenders. This emphatically demonstrates the effect on the mortgage market from the end of the temporary stamp duty holiday in December.
There were 49% fewer house purchase loans in January than in December but only 15% fewer remortgage loans.
Taken from CML press release: http://www.cml.org.uk/cml/media/press/2571
