John Goodall, CEO and co-founder of Landbay comments on mortgage lending activity

John Goodall, CEO and co-founder of buy-to-let specialist Landbay comments:

“Mortgage lending activity faced a rocky period in April, despite a number of record low mortgage rates and loan-to-value deals. However, with cheap finance helping many first-time buyers to step on the ladder, and encouraging homeowners to remortgage, the dip in activity is likely to be a blip.

“It’s unlikely that the snap election will have a large or immediate impact on the housing market, especially given that last week’s General Election manifestos were disappointingly light on housing promises to tackle the UK’s supply shortage or improve the availability of rental accommodation. Tenants that are renting as a stepping stone on the way to home ownership rely on a well-served buy-to-let market to ensure rental growth doesn’t dampen their purchasing power. If we are truly going to address the wider issues of the housing market, the party leading the country after 8th June needs to make some cast iron commitments for further investment in the private rental sector, especially as rising inflation begins to hit people’s pockets”