Mortgage Lending at New Record High
CML reports £32.2bn worth of mortgage lending, a new record
21st July 2006
The Council of Mortgage Lenders (CML) have reported a new record level of mortgage lending for June, with £32.2bn in new business. The figure is 30% higher than the same month in the previous year.
The high reflects continued increases in house prices, along with a traditional summer upsurge in the market and a strong demand for remortgages.
CML director general, Michael Coogan, said that 9 of the last 12 months had seen record lending levels, and that:
"Demand for houses and remortgages remains strong, so we expect to see continued robust lending during the summer months."
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