Mortgage lending at an 11-month high in October

Gross mortgage lending increased to an estimated £12.9 billion in October

The figures from the Council of Mortgage Lenders report that lending is 4% higher than October 2011.

A CML spokesperson pointed to the Funding for Lending Scheme as a contributor.

What does this mean for the market? The reality is that this may be the result of a slower than anticipated September, which showed a fall in mortgage lending. However, even so it is clear that there is at least some activity in the market and as such, is a positive sign.

If you are currently looking to purchase a home, or remortgage, contact Harvey Bowes today for sound advice on 029 2115 6918.

 

Your home may be repossessed if you do not keep repayments on your mortgage

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About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

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