Lend­ing to re­main tight for 2011

Yorkshire Post - Property - - PROPERTY -

THE Coun­cil of Mort­gage Len­ders is fore­cast­ing the low­est lev­els in lend­ing for 30 years in 2011.

The CML says: “From April next year on­wards, len­ders will be­gin to have to re­pay the fund­ing ad­vanced through of­fi­cial sup­port schemes. This is likely to limit the avail­abil­ity of credit to sup­port mort­gage lend­ing next year and be­yond.”

The CML is pre­dict­ing 0.86 mil­lion hous­ing trans­ac­tions next year, down from this year’s es­ti­mate of 0.89 mil­lion. It thinks the num­ber of loans will shrink to £6bn, down from an es­ti­mated £9bn this year. It also thinks that ar­rears will climb from 175,000 to 180,000 and that re­pos­ses­sions next year will creep up from 36,000 to 40,000.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.