July 20, 2010 | Author

Author Alec Hanson

The CML press release out today reports gross mortgage lending in June was up 15% from May, now at £13.1 billion.

CML economist Paul Samter commented:

“Our gross lending estimate of £13.1 billion in June represents a seasonal pick-up and is higher than June last year, but is still indicative of low levels of activity.

“There are signs of house prices stabilising and more properties coming onto the market following the abolition of home information packs. This may improve liquidity in the market, but transaction levels are subdued and likely to remain so while access to credit remains constrained.

There is further a view that a recent FSA consultant paper on responsible lending could increase burden and have a knock on effect of making it harder for borrowers to access credit.

For more information visit:
http://www.cml.org.uk/cml/media/press/2674

Although the headline figure indicates an increase in lending it would be great to hear from you as to whether you are finding easy access to lenders or finding it hard still. We have found there is lots of activity amongst the lenders, but that surveyors are being tougher and much more picky.

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