The Council of Mortgage Lenders see a decline in the gross lending in January down to £10.4 billion. This is down 9% against the figure in December which was £11.3 billion.
The Council of Mortgage Lenders see a decline in the gross lending in January down to £10.4 billion.
This is down 9% against the figure in December which was £11.3 billion.
This is represents a fall of 3% against the £10.7 billion seen a year ago in January 2012.
However although this could be seen as a negative start to 2013, this is more likely to be part of the general ups and downs of an unsettled property market.
Key highlights reported by the CML publication are:
- Housing sentiment remains positive, despite ongoing economic pressures.
- Higher and more persistent inflationary pressures represent a greater headwind, but we still expect the funding for lending scheme to lift activity over coming months.
- House purchase activity was robust into the start of 2013, on the back of better mortgage availability and pricing, and we share the Bank’s confidence that this will continue over the coming months.
Commenting on market conditions , CML market and data analyst Caroline Purdey observes:
“Housing sentiment remains positive, despite ongoing economic pressures. A worsening in the outlook for inflation presents a greater headwind, but we still expect the funding for lending scheme to lift activity over coming months.
“House purchase activity was robust into the start of 2013, on the back of better mortgage availability and pricing, and we share the Bank of England’s confidence that this will continue over the coming months.
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