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Lending in 2006 was up 20% on previous year

A massive £346bn was lent during 2006, the Council of Mortgage Lenders revealed last week – 20% up on the 2005 figure.

In December alone £29.4bn was lent – 8% up on the £27bn lent in December 2005. In November an all-time monthly record of £33.1bn lending was set.

The CML says it is upbeat about the prospects for this year, even following the most recent interest rate hike.

Michael Coogan, director-general of the CML, says: “The commentators who thought the housing market would crash in 2006 were wrong. Last year the market proved itself to be in robust shape and we expect it to remain so during 2007.

“Looking ahead, many of the drivers of the market remain positive. The economy is healthy, demand for housing is strong, and house prices are continuing to rise. As a result, mortgage lending this year is expected to be even higher than in 2006.”


NAEA and ARLA agree to join forces

The National Association of Estate Agents and the Association of Residential Letting Agents have agreed to merge to become the National Federation of Property Professionals.

Halifax agents will use LMS HIPs

LMS says it has won the biggest Home Information Pack contract in the market after it signed a deal to provide Halifax Estate Agents with HIPs.

Citigroup set to buy ABN AMRO Mortgage Group

ABN AMRO Bank has signed an agreement with Citigroup to sell its US-based residential mortgage brokerage ABN AMRO Mortgage Group.The transaction is expected to close by the end of Q1 2007. Standard & Poor’s ratings services has given ABN AMRO a counterparty credit rating of ‘AA-/A-1+’.Bernd Ackermann, credit analyst at Standard & Poor, says: “The […]

Inaugural Packager Summit starts today

The inaugural Packager Summit got off to a cold but flying start today in Nice, France.Some 85 delegates are in attendance, representing the creme de la creme of the packaging community.Running for the next three days in top hotel the Palais de la Mediterranee, the programme includes talks on the packaging market, the impact of […]

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