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Mortgage market sentiment 'showing positive signs'

Posted: 21 Feb 2012 16:54:08 GMT

Property News - Mortgage market sentiment 'showing positive signs'

Gross mortgage lending in January was greater than that seen 12 months earlier.

Sentiment regarding the housing and mortgage market in the UK has improved of late, it has been noted.

Bob Pannell, chief economist at the Council of Mortgage Lenders (CML) - which is a not-for-profit trade association for the home loan industry - observed a rise in gross mortgage lending shows first-time buyers may be boosted in their efforts to complete deals prior to the ending of the stamp duty concession in March.

The industry figure was speaking in response to new figures from the CML that revealed such lending in January 2012 was ten per cent greater than that recorded during the same four-week period 12 months earlier - rising from £9.5 billion to £10.5 billion.

Mr Pannell stated: "Should inflationary pressures continue to fall back, the squeeze on household finances should ease progressively and help support stronger economic recovery."

It is likely that such movement will therefore prove positive for the property industry in the months to come.

© Houseladder Ltd

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