29 July 2009
According to new data from the Council of Mortgage Lenders (CML), the total amount of mortgage lending in the UK rose by 17% in June compared with May. The amount lent reached £12.3 billion, up from £10.5 billion.
CML economist, Paul Samter said: “The pick-up in June’s lending largely reflects seasonal factors, and these may well support lending volumes at moderately higher levels over the rest of the summer. But the combined effects of the restricted nature of mortgage funding, reduced number of active lenders, weak labour market and limited consumer demand are likely to hold back any significant and underlying improvement. Our forecast for gross mortgage lending of £145 billion this year is unchanged.“
