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Home lending up "significantly" in June - CML
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House purchase lending increased “significantly” in June, CML has revealed in its latest data.

In June, 52,000 loans worth £7.6 billion were advanced, an increase of 19% in volume and 23% in value from May 2010 and up 14% in volume and 27% in value from June 2009.

CML said that this was now the twelfth consecutive month in which lending had been higher than precisely a year before.

CML also found that 48% of new borrowers took out a fixed rate mortgage in June, the highest proportion so far this year.

CML said that fixed rate mortgages had become unpopular due to the low bank rate, “but with fixed rate prices falling they are starting to find favour again.”

CML economist Paul Samter said that the government’s austerity measures had not yet impacted mortgage demand, but warned: “We still expect house purchase activity to be muted in the coming months.”

Source: Housebuilder

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Date Published: 11 August 2010

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