19
Mar
Mortgage lending 'up last month'
The amount of money lent to homeowners in the form of mortgages
rose in February, it has been noted.
New figures from the Council of Mortgage Lenders (CML) reveal that
an increase of six per cent was recorded during the 28-day period
compared with January.
Over the course of the month, a total of £8.7 billion was
provided for the purposes of home ownership.
Responding to the findings, CML economist Paul Samter said: "As we
look forward, we expect emerging signs of improvement as confidence
in the economy grows and we move past the election."
However, he went on to note that the country can expect to see
continuing price fluctuations in the medium-term.
Earlier this month, the Financial Services Authority revealed that
lending for property purchases accounted for 62 per cent of new
advances and 63 per cent of new commitments in the mortgage market
during the latest quarter.
