CML: Mortgage lending market to remain slow
www.moneynews.co.uk > Mortgages > CML: Mortgage lending market to remain slow
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Money News |
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CML: Mortgage lending market to remain slow
Thu 19th Aug 2010
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According to the Council of Mortgage Lenders (CML), activity in the sector is likely to remain subdued during the rest of 2010.
Paul Samter, an economist at the group, said this is because lending levels and transaction numbers over the coming months look set to be lower than during the same time last year.
"Late 2009 saw a pick-up as some buyers looked to move before the end of the first stamp duty holiday," he commented.
Mr Samter was speaking after figures from the CML showed that gross mortgage lending in the UK reached about £13.6 billion last month.
This is five per cent up on the amount recorded in June, but three per cent down on the corresponding period of 2009.
The forecast comes after the CML noted that fixed rate mortgages rose in popularity during June.
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