• From The BBC:

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    Bernard Clarke, CML: “It’s only a gradual easing of lending criteria”
    The number of mortgages for homebuyers granted in June rose by 23% compared with May, according to UK lenders.Some 45,000 home loans were granted for house purchases – just 6% lower than the same month the previous year, the Council of Mortgage Lenders (CML) said. The group said the mortgage market had stabilised, although this was far from a return to the housing boom. First-time buyers were still being squeezed, as they required an average deposit of 25% of a home’s value. Low numbersThe CML figures showed that the number of loans granted in June to people buying a house was at its highest level since July last year, when the housing market was already entering the doldrums, and amounted to £5.9bn.
    “Low interest rates and realistic selling prices have helped generate a welcome increase in transactions. But there is some way to go before we reach…

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    Posted by Jon @ 11:59 pm

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