From The BBC:
The total amount of UK mortgage lending rose sharply in June compared with the previous month, according to lenders.The amount lent by members of the Council of Mortgage Lenders (CML) reached £12.3bn in June, up from £10.5bn a month earlier. However, the rise was mainly the result of the common seasonal increase in moving home and the figure was still 48% lower than in June 2008. A separate Bank of England report suggested a subdued UK credit market. ‘Pick-up’Overall, mortgage lending in the UK has slumped dramatically since the onset of the banking crisis in the autumn of 2007.
But there have been some signs of greater interest from home buyers recently, and the CML’s estimated gross lending figure is the highest of any month this year. “The pick-up in June’s lending largely reflects seasonal factors, and these may well support lending volumes at moderately higher levels over the rest of the summer,” said CML economist Paul Samter. The less volatile three-month on three-m…
Leave a Reply