House purchase and remortgage loans increased in May, CML reports
www.moneynews.co.uk > Mortgages > House purchase and remortgage loans increased in May, CML reports
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Money News |
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House purchase and remortgage loans increased in May, CML reports
Mon 11th Jul 2011
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According to the government body, the number of loans for house purchase and remortgage customers increased in May.
The figures, which show further stabilisation in the housing market, revealed there were 41,500 mortgage loans approved, compared with 40,800 during the previous month.
In addition, remortgage customers received their share of £3.6 billion in May, which is a significant increase from the £3 billion lent out in April.
"There is no evidence of any drastic changes on the horizon or any significant shifts in direction for the mortgage market," CML director general Michael Coogan remarked.
Last month, the organisation announced its support for the Scottish government's plans to develop a mortgage indemnity scheme for new-build homes across the country.
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