• From The BBC:

    Mortgage lending continues to rise, according to the latest figures from the Council of Mortgage Lenders (CML).Gross lending in July stood at £16bn, 26% higher than in June, though still more than a third lower than in July last year. Mortgage lending, house sales and property prices have all picked up in the past few months after a dramatic slump caused by the banking crisis. But the CML warned the housing market would slow down again later this year. “The CML’s July gross lending estimate of £16 billion is the highest level in nine months and consistent with the rise in house purchase approvals,” said the CML’s economist Paul Samter. “We anticipate some seasonal slowing in lending volumes and housing transactions over the latter part of the year and the picture of a slow but more stable market to emerge,” he added. Less expensive loans?Typically, would-be borrowers now have to put down an average deposit of 25% if they want to take out a mortgage.
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    Posted by Jon @ 2:15 pm

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