The Council of Mortgage Lenders estimates that gross mortgage lending in July increased to £12.7 billion. Lending rose by 8% from £11.7 billion in June and was 2% higher than the total of £12.5 billion in July 2011.
In today’s CML market commentary, CML market and data analyst Caroline Purdey comments:
“Gross mortgage lending showed an 8% increase from last month, continuing the see-saw pattern seen throughout this year, albeit against a broadly flat market.
“Interpretation of recent trends continues to be challenged by one-off effects. We look forward to the September figures when the distorting effects of the Diamond Jubilee and the Olympics should largely have worked their way through”.
Gross mortgage lending up 8% from previous month
The Council of Mortgage Lenders estimates that gross mortgage lending in July increased to £12.7 billion. Lending rose by 8% from £11.7 billion in June and was 2% higher than the total of £12.5 billion in July 2011.
In today’s CML market commentary, CML market and data analyst Caroline Purdey comments:
“Gross mortgage lending showed an 8% increase from last month, continuing the see-saw pattern seen throughout this year, albeit against a broadly flat market.
“Interpretation of recent trends continues to be challenged by one-off effects. We look forward to the September figures when the distorting effects of the Diamond Jubilee and the Olympics should largely have worked their way through”.