CML
Deputy governor for Monetary Policy at the Bank of England Charlie Bean has said lower inflation next year should both support the mortgage market and consumer spending.
The number and value of remortgages taken out in August increased by more than 30% on the same period of last year, as the market showed “welcome signs of life”, according to the CML.
Gross mortgage lending reached an estimated £13.4bn in August, a 10% rise from £12.1bn in August 2010, according to the Council of Mortgage Lenders (CML).
Other CML articles
A near-£2bn increase in mortgage lending last month may be no more than a "flash in the pan" reflecting concerted efforts from lenders to meet their mid-year targets, according to chartered surveyor e.surv.
Britain faces a wave of home repossessions when interest rates begin to rise again, one of the country’s leading bankers has warned.
The Council of Mortgage Lenders has appointed Paul Smee as its incoming director-general, starting on 1 August.
Colin Walsh, chairman of the Council of Mortgage Lenders (CML), is set to leave the organisation.
The 8.1% increase in house prices in the first half of 2011 will largely reverse in the next six months, as oversupply of property runs up against lack of funding, according to Rightmove.
Gross mortgage lending in March was an estimated £11.3bn, a 21% rise from £9.3bn in February, according to CML data.
The housing trade bodies have given their response to the key announcements outlined by the Chancellor George Osborne in the Budget today.
House purchase lending fell 26% in January to £4.2bn, as an “unusual combination of factors” drove buyers from the market, according to the CML.
Michael Coogan, director general of the Council of Mortgage Lenders, has announced that he will be stepping down from his role in August.
Gross mortgage lending fell 13% to an estimated £9.2bn in January from £10.6bn in December, as the market shows little signs of rebounding, according to the CML.
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