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Gross mortgage lending £20 billion in August PDF Print E-mail
Thursday, 17 September 2015

The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £20 billion in August. This is 8% lower than July’s lending total of £21.7 billion, but 12% higher than August last year (£17.8 billion).

Bob Pannell, CML chief economist, comments:
“Mortgage lending is currently enjoying its best spell since 2008, on the back of a pick-up in house purchase and remortgage activity over the summer months.  August’s lending of £20 billion marks the third month in a row of strong year-on-year growth and is the highest August figure since 2007. We expect further modest growth for the rest of the year, although affordability pressures are likely to limit gains for first-time buyers and home movers.”

(Source - CML Press Release)


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