CML: Mortgage market will remain strong

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CML: Mortgage market will remain strong

Tue 2nd Oct 2007

The Council of Mortgage Lenders (CML) has claimed that although the markets have been volatile of late, the mortgage market will continue to be strong.

Most of the main driving factors behind the strong housing market are still present, the CML has stated.

Credit markets will start to "unwind" in the next few months, the CML predicted.

The CML released a statement saying: "The full extent of the wider financial market turmoil is yet to become clear, but the UK housing and mortgage markets have proved resilient in the past and there are a number of factors likely to prove supportive once the dust settles."

However, the Bank of England has released figures which show that the growth of the mortgage market slowed in August, compared to July.

And the amount of net lending was at the lowest since February of last year, the Bank of England figures showed.

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