CML notes challenging year for mortgage customers
www.moneynews.co.uk > Mortgages > CML notes challenging year for mortgage customers
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CML notes challenging year for mortgage customers
Mon 21st Mar 2011
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New figures from the Council of Mortgage Lenders (CML) showed that there was little rise in the amount available to borrowers in February, with January's £9.475 billion only slightly increasing to £9.5 billion.
This is a continuation of a long year of small growth in lending, with the new statistics comparing to £9.419 billion seen in February 2010.
Bob Pannell, chief economist at the CML, said: "There is little in the latest batch of market data that would cause us to revise our market forecasts for 2011."
He added that this will likely be a "challenging year" for both consumers and the market as a whole.
CML Scotland recently welcomed Scottish Building Society general manager Jim Dunn as its new chairman, taking on the former role of Douglas Cochrane from Lloyds Banking Group.
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