Aldermore comments on September's drop in mortgage lending

While commenting on September’s gross mortgage lending figures released by the Council of Mortgage Lenders today, Charles Haresnape of Aldermore Bank stated that market uncertainty may be forcing individuals to re-evaluate their plans. 

Charles Haresnape, Managing Director, Mortgages and Commercial Lending at Aldermore Bank said: “It is interesting that August, traditionally one of the quietest times of the year for the housing market, has seen higher volumes of mortgage lending than September."

“There is increasing uncertainty in wider markets and this may be making people rethink their plans. Closer to home, political uncertainty over the Scotland referendum and next year’s general election may also have had an impact."

Today, the Council of Mortgage Lenders estimated that gross mortgage lending reached £17.8 billion in September, which was 1 per cent lower than August’s £18 billion. Although, this was 10 per cent higher than September last year, which stood at £16.2 billion.