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Lending hit new May record, says CML

Gross lending reached a new May record of £30.6bn data from the Council of Mortgage Lenders reveals.

The figure is up by 12% on April’s lending total of £27.4 billion and is 5% higher than the same month in 2006 when lending hit £29bn,

However, the CML says the rate of year-on-year growth is not as high as the market has seen in the first four months of the year – typically around 12% to 15%.

Michael Coogan, director general of the CML, says: “While today’s lending figure is a new record for the month of May, it does indicate that the market is slowing down following the rapid and sustained growth we saw last year.

“Going forward we expect lending to ease as we progress through the year, but the market will remain in good shape.

“Although further interest rate rises will continue to dampen demand, we are still on course to meet our prediction of a record £360bn of lending during 2007.”


French lenders increase LTVs for UK and Irish nationals

French lenders are now offering higher LTV mortgages to UK and Irish residents, research from Assetz Finance reveals.The maximum LTV ratio typically offered by French lenders until now has been between 80%-85%. Research by Assetz Finance has revealed that lenders will now offer up to 90% LTV to UK and Irish buyers on holiday homes, […]

Secured loans from Advantage

Advantage is hoping to take the market by storm with the launch of a secured loans range under new brand ADV2, to be exclusively distributed by master broker Enterprise Finance.The ongoing distribution agreement between the two companies means Enterprise has unique access and ring-fenced distribution rights to the ADV2 product range. The deals on offer […]

Offsets can help clients fund their kids

I’ve been discussing the benefits of offset in Mortgage Strategy for a number of weeks but it struck me recently how glad I am that I practice what I preach.

Brokers could exit Park Row

Kevin Paterson’s imminent departure from Park Row Ass-ociates could trigger an exodus of mortgage brokers from the firm, inside sources claim.And they attribute Paterson’s exit to the firm’s diminishing appetite for mortgage business.Paterson quit his position as national sales director at Park Row earlier this month to join Enterprise Group as group marketing director. He […]

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


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