CML: Gross mortgage lending up 2%

Posted: 21 Oct 2009 13:08:34 GMT

A two per cent rise in estimated gross mortgage lending was recorded in September by the Council of Mortgage Lenders (CML).

It prompted the organisation's economist Paul Samter to say that home-buying activity is more buoyant than it was at the turn of the year.

CML figures show that the gross lending figure was estimated at £12.5 billion last month - up from £12.3 billion in August.

And although this was down 27 per cent year-on-year, Mr Samter thinks there are a number of positive signs to consider.

"Some of the UK's highly rated institutions have been able to issue structured finance products backed by mortgages in recent weeks," he said, adding that this is "welcome" despite it only being a sign of investors "tentatively coming back" into the market.

Earlier this week, the CML announced that it is looking forward to working with the Financial Services Authority as the group aims to further regulate the mortgage industry.


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