Lending up but CML urges caution
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Mortgage lending jumped 15% in June but hopes of a market pick-up have been downplayed by the Council of Mortgage Lenders, which says lending will remain constrained for the rest of the year.
The trade body recorded a 15% rise in gross mortgage lending in June, to an estimated £13.1bn.
Gross lending in Q2 2010 was an estimated £35bn, a rise of 17% from Q1 and up 7% on Q2 2009.
Paul Samter, economist at the CML, says: “More properties are coming onto the market but transaction levels are subdued, and they are likely to stay that way while access to credit remains tight.”
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