18
Nov
CML: Mortgage lending remained relatively level
The amount of money lent out to people purchasing houses for sale
in the UK remained relatively level between September and October
2010, according to a report.
Figures from the Council of Mortgage Lenders (CML) revealed that
£12.4 billion was lent out to homebuyers in October.
This shows that there has been little change since the previous
month, when gross mortgage lending totalled £12 billion.
Indeed, the results from the CML indicate a slight improvement in
the lending market, having risen by £400 million over the
month.
This is after a drop of one per cent from August, when it totalled
£12.1 billion.
CML chairman Matthew Wyles said in a speech today (November 18th
2010) at the CML's 2010 Mortgage Industry Conference and Exhibition
that home loan lending for people purchasing properties for sale in
the UK is likely to reach £137 billion in total by the end of
the year.