The Council of Mortgage Lenders reported their estimates gross mortgage lending in July had increased to £12.7 billion. This represented a rise of 8% from £11.7 billion in June and was 2% higher than the total of £12.5 billion in July 2011.
The Council of Mortgage Lenders reported their estimates gross mortgage lending in July had increased to £12.7 billion. This represented a rise of 8% from £11.7 billion in June and was 2% higher than the total of £12.5 billion in July 2011.
However this is just continuing the varied reports that have been released this year of increases and decreases, confirming the flat market that other property news and house price indices are reporting.
In today’s CML market commentary, CML market and data analyst Caroline Purdey comments:
“Gross mortgage lending showed an 8% increase from last month, continuing the see-saw pattern seen throughout this year, albeit against a broadly flat market.
“Interpretation of recent trends continues to be challenged by one-off effects. We look forward to the September figures when the distorting effects of the Diamond Jubilee and the Olympics should largely have worked their way through”.
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