CML: Mortgage demand 'difficult to predict'
www.moneynews.co.uk > Mortgages > CML: Mortgage demand 'difficult to predict'
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CML: Mortgage demand 'difficult to predict'
Fri 13th Aug 2010
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The number of houses being bought and sold in the UK is expected to remain subdued in the coming months, according to one expert.
Although there were increases in the number of properties bought during June 2010, the market is likely to stabilise as a result of the proposed government spending cuts, the Council of Mortgage Lenders (CML) announced.
Paul Samter, economist with CML, said: "Both consumer demand and lending capacity remain distinctly difficult to call, especially in the light of the government's austerity measures and their possible impact."
Fixed-rate mortgages have been popular for those looking to take out a loan, with the fall in the cost of the deals cited as making them more attractive.
The CML recently commented on the Bank of England's findings for the mortgage market, noting that the decline in the number of approved loans was the first time the total had dropped since April 2009.
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