Mortgage lending falls in August
Mon, 21 Sep 2009
The council of mortgage lenders has published a report showing mortgage lending for August is down on July by some 13% to £12.6 bn.
The CML’s economist, Paul Samter, reportedly said: "The likelihood of a significant pick-up in lending remains weak, but the prospects for wholesale funding markets are improving. This could result in a gradual easing in constraints on the supply of funding over time."
The CML’s figures come as the Bank of England reported the number of successful mortgage applications for July were up to 50,123 from 47,891 in June.