Mortgage Lending Up But Slowing
Published / Last Updated on 20/08/2009
Mortgage Lending Up But Slowing
The Council of Mortgage lenders has confirmed that lending by its members in July was up to £16bn, more than 25% higher than in June.
It is suggested that this has been caused by an initial move for first time buyers and buy to let purchases.
The CML suggest, and we have been warning of this for sometime, that lending will slow as the ?second recession? spike starts to bite in the winter with an estimated further 1 million people on the unemployment line.
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