Behind the Stats: What’s really happening in the PCL market?

The "profound" effects of Osborne’s SDLT reforms on the PCL market are only just becoming clear, according to one of the capital's biggest estate agencies.

The housing market is "as expected showing signs of a modest recovery" says the Council of Mortgage Lenders, as the latest gross lending estimates show a fairly static picture through May.

"Buyers are ready" says Douglas & Gordon as the estate agency reports a 50% year-on-year jump in the number of new applicants, but vendors are playing it very cool, with 33% fewer new instructions in June…