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Gross mortgage lending rises in June
Wed, 21 Jul 2010
New data from the Council of Mortgage Lenders (CML) shows that gross mortgage lending in June was an estimated £13.1 billion, a 15 per cent rise from £11.4 billion in May and a seven per cent increase from £12.2 billion in June 2009.

Furthermore, the CML said that gross lending in the second quarter of 2010 was an estimated £35 billion, up 17 per cent from the first quarter of this year.

CML economist Paul Samter remarked: "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."

Meanwhile, Leeds Building Society recently reduced the rate of its two-year fixed-rate buy-to-let mortgage, which is now available from only 4.89 per cent.

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