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London Property Guide for 2012
The overall amount of lending for mortgages fell in August by 13 percent, according to the latest figures from the Council of Mortgage Lenders (CML). While the amount of lending fell in August, it is a normal time of the year for a dip, the CML reports, and the overall lending market appears to have stabilized during the summer months.
For the month of August, a total of £12.6 billion was loaned, down from £14.5 billion in July. The August amount was 37 percent lower than August of 2008, which saw a total of £19.9 billion in loans. For the remainder of 2009, the CML is not looking for any major changes. The pick-up in housing activity will be checked by funding constraints and lack of remortgages.
© Housing Market News by The Little House Company
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