Mort­gage lend­ing rises to hit £14.7bn

Yorkshire Post - Property - - PROPERTY -

MORT­GAGE lend­ing in May in­creased to £14.7bn, rep­re­sent­ing a rise of 21 per cent from £12.2bn in April and 17 per cent higher than the to­tal of £12.6bn in May 2012. This is the high­est monthly es­ti­mate for gross mort­gage lend­ing since Oc­to­ber 2008.

CML chief econ­o­mist Bob Pan­nell says: “The im­mi­nent change of guard at the Bank of Eng­land takes place against the back­drop of a mod­estly im­prov­ing UK econ­omy, al­beit one that ap­pears to rest upon a pick-up in con­sumer spend­ing and a re­cov­er­ing hous­ing mar­ket.

“Fund­ing con­di­tions, helped by the fund­ing for lend­ing scheme, con­tinue to look favourable and are sup­port­ing more com­pet­i­tive mort­gage pric­ing and avi­l­abil­ity.”

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