Comment by Mark Blackwell, xit2 on CML survey figures. September 12th 2013
In response to today's survey figures published by the Council of Mortgage Lenders, Mark Blackwell, Managing Director of xit2, property data specialists, comments: "Today's figures from the Council of Mortgage Lenders show encouraging results providing optimism with growth being driven by first time buyers getting access to higher LTV (loan-to-value) borrowing whilst home movers are holding their own, showing some resilience despite reduced equity and less flexible underwriting. There is dramatic movement in the buy-to-let market symptomatic of affordability and supply, with on-going cheap loans and investors getting in before rates and prices go up further - capital growth is back on the agenda.
The figures show a market acting quite independently of the overall economy although even that is showing positive signs. The mortgage and property market needs sustainable levels of activity and growth. Whilst talks of housing bubbles will hopefully remain just that - talk - the industry has to support that demand whether it is in funding, housing supply or surveyors on the ground being able to respond to growing demand.
The press release from the Council of Mortgage Lenders can be seen here
Mark is available for follow-up comment.
Photography available.
Aboutxit2
xit2 is a mortgage and property outsourcing specialist. Through its web-based data exchanges, it connects all the parties involved in a property transaction - lenders, intermediaries, surveyors, arrears counsellors, conveyancers, estate agents, and asset managers. xit2 offers a broad portfolio of online products administering all aspects of mortgage transactions from repossessions management and valuations to EPC delivery and arrears and debt management. xit2 works on all aspects of the transaction from admin and billing to invoicing and IT development support. xit2 - the one-stop-shop for mortgage outsourcing, is part of Decision Insight Information Group. xit2's sister company, SearchFlow, is the equivalent one stop shop for property searches in the UK.
For further information about xit2 or the information contained within this statement, please contact:
Mark Blackwell, Managing Director, xit2 07827 851112 m.blackwell@xit2.com
or Chaz Brooks CBCTel: 01483 537890 Mobile: 07768 510300 Email:chazb@chazb.com Twitter:@chazbrooks