CML: Mortgage lending 6% monthly rise BUT 6% yearly fall!

Date Posted March 18, 2010  |  Author Author Alec Hanson


The Council of Mortgage Lenders (CML) statistics for February show that Gross Mortgage lending increased by 6% on January figures. Somewhat unusual as February is the shortest month – but not a surpise due to the poor January figures attributed to the weather and end of the stamp duty holiday.

In marked contrast the stats show a fall of 6% against lending in February 2009. However the combined figures for the start of the year were broadly as forcast by the CML.

“As we look forward, we expect emerging signs of improvement as confidence in the economy grows and we move past the election” remarked CML economist Paul Samter.

“With activity unlikely to pick up much in the short term, we would expect to see further modest volatility in the coming months.”

Recent house price data from lenders – see February HPI reports – suggests that property values dipped in February.

For more information visit: www.cml.org.uk/cml/media/press/2579 or read the full Market Commentary

Alec Hanson


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