Mort­gage lend­ing on the in­crease

Yorkshire Post - Property - - PROPERTY -

THE Coun­cil of Mort­gage Lenders (CML) es­ti­mates that to­tal gross home loan lend­ing in June in­creased to £15bn, two per cent up from the £14.7bn to­tal in May and 26 per cent higher than the fig­ure of £11.9bn in June 2012.

It is the high­est monthly es­ti­mate for gross lend­ing since Oc­to­ber 2008.

CML chief econ­o­mist Bob Pan­nell said: “Im­prove­ments in the cost and avail­abil­ity of mort­gage credit are un­der­pin­ning a mean­ing­ful re­cov­ery in the hous­ing mar­ket. In re­cent months, we have seen the strong­est per­for­mance for mort­gage lend­ing since 2008.

“How­ever, this is still barely half of ac­tiv­ity rates a decade ear­lier, and so far be­low what might be con­sid­ered nor­mal lev­els.”

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