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Posted by Helen Jones

People looking to purchase a home in the near future are unlikely to contend with mortgage lending levels that are any lower than the current rate, an expert has said.

Recently (April 20th), the Council of Mortgage Lenders revealed that gross loans from banks and building societies increased by 21 per cent to £11.3 billion throughout the duration of March in comparison to one month earlier, but this still represents an annual fall of two per cent.

However, Ray Boulger, senior technical manager at John Charcol, believes that gross lending is "unlikely to fall any further" and added such figures are "certainly encouraging".

Nevertheless, he indicated that a rise in the figure also seems unlikely, meaning that the sector appears set to remain static as the "nadir" in terms of how low it will slip has now passed.

"I would expect it to be bumping along at these sorts of levels for the next few months," Mr Boulger added.
 

21/04/2011 15:32