|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    21st of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Mortgage News feed Mortgage News

All Financial News feed All Financial News




CML: Mortgage lending remains subdued in October

Bookmark and Share

by Kay Mitchell
CML: Mortgage lending remains subdued in October

The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in October.

44,000 loans for home purchase were approved with gross mortgage lending totalling £12.4 billion – unchanged from the previous month and 9% lower on year ago levels.

It also represented the lowest October figure since 2000.

Commenting on today’s figures, the CML said: “The month-on-month annual comparison is likely to continue to decrease a little in the coming months, because underlying lending volumes rose sharply in the latter part of 2009 as borrowers rushed to take advantage of the stamp duty concession before the end of the year.”

The ongoing lack of mortgage availability, particularly to first time buyers, is considered to be a major factor in the fall of house prices and lending is expected to remain subdued.

In addition, new instructions continue to outstrip buyer demand, which is, in turn, putting downward pressure on prices.

Discuss this in the Finance Markets forums

Story link: CML: Mortgage lending remains subdued in October



News posted: November 18, 2010

Financial Services:





Related financial stories to: CML: Mortgage lending remains subdued in October:
Previous: «
Next: »

Visited 2898 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,