Lending Figures Drop

The Council of Mortgage Lenders CML has said that gross lending figure for August fell by 6 per cent and further falls should be expected as the credit crunch hits home.  

The Council of Mortgage Lenders is warning consumers to expect interest levels to be at or about the current levels for the foreseeable future.  The Building Societies Association has also indicated that its lending levels have also slowed down over the summer months.  

Our view

Lending figures for August do not give an indication of recent market troubles, we suggest that rates will remain until March and then we may see some changes as the housing markets slows even further.  The Bank of England will not want the housing market to stall.

Useful links:

Learn more about this and related topics in the Mortgage Adviser Channel

Request expert financial advice now

Purchase guidance on financial planning in the Money Shop 

Back to News Summary