Gross mortgage lending rose 24% in March, according to figures from the Council of Mortgage Lenders.
Lending climbed from £9.3 billion In February to £11.5 billion in March, CML found. CML commented that the figures were “in line with the typical seasonal pattern of a rise in lending volumes in March.” The total is up 3% from March 2009.
But gross lending for the first quarter of 2010 was 24% down on the last quarter of 2009 and now stands at £29.5 billion. This is the lowest quarterly lending total since the first three months of 2000.
“Overall, housing and mortgage activity remains subdued, but is comfortably higher than in the depths of the recession a year ago,” said CML’s economist Paul Samter.
Source: Housebuilder
See Also: Property News (6711), Council of Mortgage Lenders (14)
Date Published: 19 April 2010
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