As the market of London properties saw a significant increase in the lending during the second quarter of this year, Fitzhugh Decorators and the painting and decorating industry also have a bright future ahead.
The latest data that was released by the Council of Mortgage Lenders showed that the activity in home owner house purchasing in Greater London came out strong amid the seasonal traditional seasonal dip that was expected. The value and volume instead increased dramatically.
There were similar trends with the first time buyers and garnered an increase in levels during the first quarter this year. However, it is also to be noted that this sector also experienced a slack season on the same quarter in 2014.
The remortgage lending which is unlike the house purchasing activities, it experienced a year on year growth in both its value and volume. The director general of CML, Paul Smee, expressed his joyful thoughts on the current developments in London. He said that the overall London property market came out of the usual dip during the first quarter and saw increased activity in the sector.
After a period of no utter growth or stagnation, the remortgage activity has been back in the game and has shown quarterly and yearly growth. A lot of borrowers have seen to be taking advantage of the different very competitive rates offered by mortgagors.
In Wales the activity on home purchasing also saw a large quarter on quarter improvement as compared during the first quarter of this year. It had a slight decline though in the volume of loans as compared during the second quarter last year.
During the second quarter also, the first time buyers increased dramatically in number. However the amount that was borrowed decreased as compared during the same quarter of 2014. The value as well as the volume of home movers also went up quarter on quarter. The number of loans meanwhile remains unchanged year on year but the amount of borrowed money significantly increased from the home movers sector. The data released also showed that the remortgage activity has increased compared during the first quarter last year.