CML predicts flat mortgage market for 2012
www.moneynews.co.uk > Mortgages > CML predicts flat mortgage market for 2012
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Money News |
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CML predicts flat mortgage market for 2012
Fri 16th Dec 2011
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Overall, the organisation has revealed 852,000 transactions are forecast to have been completed by the end of this year, with 825,000 the likely figure for volumes over the coming 12 months.
However, repossessions are predicted to rise from 37,000 in 2011 to 45,000 by the end of 2012.
"Despite the fact that activity levels have already been subdued for several years, we have pencilled in a broadly flat picture - for both mortgage lending and property transactions," noted CML chief economist Bob Pannell.
The news follows comments by Simon Collins Product, technical manager at John Charcol, who claimed mortgage options continue to be available for buyers despite the impact of the economic downturn, with 57 per cent of all mortgage business submitted in November 2011 being successful.
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