Total lending for 2013 was predicted to be in the region of £150-160bn. The actual figure will be nearer £170bn. Predictions for 2014 are already being suggesting volumes will reach £190-£200bn (2007 was £370bn!).
Although the funding for lending scheme is being withdrawn in January, a year earlier than planned, the financial sector is in a strong position and one that we hope will be able to stand on its own two feet to move forward successfully over the coming months.
It is also reported that there are a number of lenders looking to enter the UK market who are in the process of getting their FCA authorisation. More competition is great news for the economy and can only be good news to the end consumer.
Finally, a heartfelt thank you for reading my column over the last twelve months. It has been an enjoyable(!) experience each week trying to provide an insight in to what happens behind the scenes in the mortgage market. But I do love it! No two days are the same and how can anyone not enjoy helping people reach their dream!?
On behalf of all the staff and directors at AToM, we wish you and your families a very Happy Christmas and Prosperous (& Relaxing) New Year! We look forward to working with you in 2014.