Product Guides
Personal Finance News
What our customers say..."Great site, links & up to date. Keep up the good work! "
Mortgage lending 'not falling any further'
Mortgage lending is not falling or rising in activity levels, it has been observed.
According to Ray Boulger, senior technical manager at mortgage adviser John Charcol, seasonal influences have led to increased house purchasing in March, but in addition, "activity in the mortgage market is ticking along at similar levels to what we have seen".
"We are not seeing any significant increases in activity, but equally we seem to have hit a nadir in so far as it is not falling any further," he explained.
"I would expect it to be bumping along at these sorts of levels for the next few months."
He was commenting on the figures published by the Council of Mortgage Lenders, which revealed that gross mortgage lending was £11.3 billion in March, a 21 per cent increase from February and a two per cent fall from March 2010.
Mr Boulger noted that it is "certainly encouraging" that figures have picked up month-on-month after seasonal variations.
Copyright
According to Ray Boulger, senior technical manager at mortgage adviser John Charcol, seasonal influences have led to increased house purchasing in March, but in addition, "activity in the mortgage market is ticking along at similar levels to what we have seen".
"We are not seeing any significant increases in activity, but equally we seem to have hit a nadir in so far as it is not falling any further," he explained.
"I would expect it to be bumping along at these sorts of levels for the next few months."
He was commenting on the figures published by the Council of Mortgage Lenders, which revealed that gross mortgage lending was £11.3 billion in March, a 21 per cent increase from February and a two per cent fall from March 2010.
Mr Boulger noted that it is "certainly encouraging" that figures have picked up month-on-month after seasonal variations.
Copyright
Published: 26/04/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.