CML identifies rise in mortgage lending

Posted: 18 Jun 2010 11:49:14 GMT

Gross mortgage lending went up seven per cent in May compared to the previous month, according to a report.

Figures from the Council of Mortgage Lenders (CML) show an estimated total of £11.3 billion was provided, which is up from £10.5 billion in April and £10.2 billion the same time last year.

Paul Samter, economist for CML, believes next week's emergency Budget will not include tax changes that directly affect the housing and mortgage market, but any announcement made could have implications on people's finances and whether they want to buy a house.

He said: "The market will inevitably be affected by how policy impacts on the wider economy - particularly on household finances and confidence."

Although the study shows the property market to be more buoyant than this time 12 months ago, it is still below what was seen in the latter stages of last year.

Mortgages may be becoming easier for first-time buyers to access due to the recent rise in high loan-to-value deals available, according to Ray Boulger of John Charcol.


© Houseladder Ltd