Mortgage lending on the rise
The national housing market reported another increase in mortgage lending in March.
Gross mortgage lending totalled £15.4bn during the month, up 4% on February and 33% higher than a year earlier, according to the Council of Mortgage Lenders (CML).
A BBC report says that lending in the first quarter of the year, traditionally a quiet period, was down on the previous three months.
The figures show that total UK mortgage lending in the first three months of the year was £46.3bn. This was 10% down on the last three months of 2013.
However, the CML said this was expected owing to the annual trend of fewer house-hunters looking at properties in the new year. Despite this, lending in the quarter was 37% higher than in the first three months of last year.
Bob Pannell, the CML’s chief economist, said: “The underlying – seasonally adjusted – picture continues to depict the strongest and most sustained activity levels for more than five years.” Read more here: http://tinyurl.com/o6o5u45
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The national housing market reported another increase in mortgage lending in March. Gross mortgage lending totalled £15.4bn during the month,…