View more on these topics

May lending second highest on record, says CML

Gross mortgage lending reached 28.7bn in May, figures out from the Council of Mortgage Lenders have revealed.

Lending was 18% higher than in April and nearly 30% higher than in May last year.

It was the strongest May figure on record and only 0.5% below the record for a single month seen in July 2004 when lending hit 28.9bn.
Lending is typically higher in May than in April, as house buying strengthens during the spring months.

However, even taking into account seasonal factors and the impact of the Easter break on last month’s figures the rise in lending in May was very strong.

CML director general, Michael Coogan says: “The recent lending market has been consistently strong. Lending has hit record levels in six of the last eight months supported by the strength of the London market, interest in higher priced properties and strong consumer confidence.”

“We expect demand to moderate later this year, but it looks set to stay robust for the immediate future – although property viewings might be affected by World Cup fever.”

Recommended

Cheval bought by investment group

Bridging finance lender Cheval was last week bought by a major shareholder in the UK Domino’s Pizza chain. The buyer is investment partnership Credit Investments which is owned by Colin Halpern and Ellis Sher. Halpern is an experienced entrepreneur. In 1993 he and his brother Gerry bought the UK and Ireland franchise for Domino’s Pizza. […]

Sub-prime lenders rapped

Sub-prime lenders have been criticised for not doing enough to get their clients back onto prime deals after putting them on credit repair products. Thomas Reeh, chief executive officer of blackandwhite.co.uk, says: “Lenders are not interested in credit repair as long as they have their customers on sub-prime deals. They rely on clients being lazy.” […]

Would a property with a flag put you off?

Propertyfinder.com has warned that football fans should avoid hanging English flags outside their homes if they want to sell during the World Cup.It warns that this could not only put off potential buyers but might also decrease the value of the property.So, this week Mortgage Strategy asks…Neil Johnson, 38, sales manager – The fact that […]

A&L to launch specialist products with Lehman

Alliance & Leicester last week confirmed plans to launch a set of specialist products through a tie-up with Lehman Brothers, adding that it may consider putting these on its own books in future. The lender says it will soon start to distribute buy-to-let, self-cert, near prime and sub-prime specialist mortgage products through brokers and the […]

China: growth defence or another debt-fuelled boom?

By Douglas Turnbull, Head of Chinese Equities at Neptune Following recent stimulus efforts from Beijing, Neptune’s Douglas Turnbull examines how the government’s long-term reform agenda can be balanced with supporting growth and addressing structural challenges, and the investment opportunities arising from this.Click here to read more Important information: Investment Risks Neptune funds may have a […]

Newsletter

News and expert analysis straight to your inbox

Sign up