EU vote contributing to slow down in home lending in the UK

In UK, house purchase lending activity has fallen to a 12-month low. The recent falls represent a marked turnaround from the peak in lending seen at the start of the year. January and February saw strong number of house purchase but the political uncertainty ahead of the EU Referendum may be causing caution among lenders. On an annual basis, however, house purchase lending rose marginally in May by 0.8%. Richard Sexton, director of e.surv chartered surveyors, said that despite the uncertainty the mortgage market remains on an even keel and home-buyers have more options than ever as lenders work to expand their mortgage options.