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CML estimates small May monthly rise in lending PDF Print E-mail
Thursday, 18 June 2015

Gross mortgage lending in May (not seasonally adjusted) showed little change on the previous month or on the same month last year, according to the Council of Mortgage Lenders (CML). It rose by 2% on the previous month to an estimated £16.2 billion, but was 3% lower than the £16.8 billion of lending undertaken in May 2014.

Forward indicators of lending, such as Bank of England data on approvals, suggest that the market can expect an upturn in lending over the coming months, reflecting the CML's assessment that a modest recovery is under way.
 
CML economist Mohammad Jamei remarks in the CML's monthly market commentary:
 
“The economic environment is one that should support increased activity in the near term, coupled with low mortgage rates. But while we expect these factors to support activity, there is a limited upside, driven mainly by affordability constraints.”

(Source - CML Press Release)
 

 
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