Lenders loosen purse strings

Yorkshire Post - Property - - PROPERTY -

THE Coun­cil of Mort­gage Lenders says gross lend­ing last month was 49 per cent higher than De­cem­ber 2012 and the high­est to­tal for a De­cem­ber since 2007.

CML chief econ­o­mist Bob Pan­nell says: “Short-term growth prospects for the hous­ing mar­ket and the wider econ­omy look very pos­i­tive.

“Mort­gage lend­ing was stronger than we ex­pected in the clos­ing months of 2013, but lenders ex­pect lit­tle if any boost to bor­rower de­mand this quar­ter.

“While some of th­ese gains re­flect gov­ern­ment schemes, the ra­tio­nale for the pos­i­tive nar­ra­tive is a much broader one, re­flect­ing such fac­tors as the im­prov­ing econ­omy and jobs mar­ket, con­sumer con­fi­dence and com­pet­i­tive mort­gage deals.”

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