Mortgage Lending Rises
Council of Mortgage Lenders says total lending rose to £28bn in September, the highest ever figure
20th October 2005
Two new sets of figures agreed that the amount of mortgage lending rose in September, leading to hopes that the housing market may be in recovery after a marked cooling over the last 12 months or so.
The Council of Mortgage Lenders, which represents most the UK's lenders, said total borrowing rose from £26.9bn to £28bn over the month, the highest figure ever.
Other figures from the British Bankers Association, calculated in a different way to remove the effect of repayments, showed that net lending rose by £5bn.
Michael Coogan of the CML commented:
"The housing market is in relatively good health. Expectations of lower interest rates have undoubtedly helped trigger the recent resurgence in lending."
Read More: BBC : Mortgage lending starts to revive
Home - Mortgages
