CML: July gross mortgage lending "subdued"

Money News

www.moneynews.co.uk > Mortgages > CML: July gross mortgage lending "subdued"

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

CML: July gross mortgage lending "subdued"

Weak lending in the month of July is expected to continue throughout the rest of the year, the Council of Mortgage Lenders (CML) has said.

While July recorded a small month-on-month increase in activity, it was still significantly less than the same period a year ago.

Bob Pannell, head of research at CML, said this continued the trend of weak lending in June.

He said it "points towards the more subdued levels of lending we are likely to see in the second half of 2008".

Last month, consumer confidence dropped to a record low, Bloomberg reported.

As the Nationwide Building Society recorded the average home value dropping 8.1 per cent, an index of confidence fell five points to minus 39.

It was the lowest score since the index began in 1974, according to Gfk NOP.

Bloomberg also reported a prediction by Standard & Poor that 1.7 million UK homeowners are likely to have their house value fall beneath the amount they owe on the mortgage.

ADNFCR-323-ID-18740872-ADNFCR

Related News : Mortgages

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Housing market

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Nationwide

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet