House lending highest since August 2010, says CML
www.moneynews.co.uk > Mortgages > House lending highest since August 2010, says CML
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Money News |
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House lending highest since August 2010, says CML
Mon 12th Sep 2011
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The rise represents a total value increase from £6.9 billion to £7.3 billion as well as a volume growth from 47,800 to 48,800.
For the first-time buyer (FTB) market segment, overall lending was at its highest level in terms of value. However, it could still prove difficult for some as the actual number of FTB mortgages decreased in July 2011 by 300 compared with June this year, as well as being 1,300 fewer than July 2010.
The CML's director-general Paul Smee said: "It is likely that this reflects weak consumer appetite for borrowing, more than any additional constraints on the availability of mortgages."
He added that the country's lending market was "currently holding steady" overall, despite volatility in Europe and the US throughout August.
On Friday, independent financial research company Defaqto claimed mortgages were at their best value since March 2009 when interest rates were first lowered by the Bank of England to 0.5 per cent.
Click here for more mortgages news
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