Gross mortgage lending rose to £11.3bn in March
Share
Gross mortgage lending rose 7% in May to an estimated total of £11.3bn, according to the Council of Mortgage Lenders.
This represents a rise from £10.5bn this April and £10.2bn in May 2009.
But turnover remains slightly below that seen towards the end of 2009, and gross lending may undershoot the CML’s forecast of £150bn for 2010.
Paul Samter, economist at the CML, says: “The ground has been cleared for next week’s Budget to be the start of an austerity drive to get the public finances back on a sustainable footing.
“Regulation is another source of uncertainty. As well as regulating individual firms the Bank of England will be accountable for the stability of the system as a whole.”
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
