Seven lean years for lend­ing

Yorkshire Post - Property - - PROPERTY -

MORT­GAGE lend­ing has sta­bilised but is likely to re­main at cur­rent lev­els un­til at least 2015, ac­cord­ing to Michael Coogan, di­rec­tor gen­eral for the Coun­cil of Mort­gage Len­ders.

Speak­ing at the Char­tered In­sti­tute of Hous­ing’s an­nual con­fer­ence, in Har­ro­gate, he said: “We are in the mid­dle of seven lean years. It’s im­por­tant that we are back at a pe­riod of sta­bil­ity, even if it’s at a lower level of ac­tiv­ity.”

Len­ders, he added, had no wish to re­turn to the “over-ex­cited” lev­els of bor­row­ing that pre­ceded the credit crunch. He stressed the CML was work­ing with the NHBC to as­sist the house-build­ing in­dus­try.

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