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CML: Gross mortgage lending up in June
Posted by Helen Jones
Gross mortgage lending from banks and building societies to people purchasing homes rose significantly last month, new figures have shown.
According to statistics published by the Council of Mortgage Lenders, June 2011 saw a 16 per cent increase to a total of £12.6 billion on the £10.8 billion recorded one month previously.
This represents the highest figure seen in the industry for 11 months, but remains three per cent lower than the £13 billion posted in June of last year.
Bob Pannell, chief economist at the CML, observed that the backdrop of issues such as stagnant economic growth and decreasing disposable incomes is "weighing heavily on purchase decisions relating to home ownership".
However, he added that recent speculation about a forthcoming dramatic rise in repossessions has been "overplayed".
This comes after Darren Owen, director at Property & Finance Solutions, recently noted that conditions for landlords in terms of accessing home loans are improving all the time.
20/07/2011 15:03
News category: Property