This entry was posted on Monday, September 3rd, 2007 at 6:10 am and is filed under Property news. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
UK Property Market
independent property advice
Mortgage lending market slowing down
The Council of Mortgage Lenders (CML) points out that mortgage lending starts showing signs of slowdown, after the considerable growth registered last year. However, the lending figure recorded in May is a new record, with mortgages summing up to £30.6 billion, a five per cent rise in comparison to May 2006.
Experts predict that lending levels will drop by the end of the year, although the market is bound to stay in the same shape. In this context, the Royal Institution of Chartered Surveyors (Rics) warns home buyers about the affordability levels deteriorating even more. While increasing interest rates will reduce the demand in autumn and winter seasons, the market is still on its way of reaching a record level of £360 billion in lending in 2007.
This post was composed by Callum Reeder. Callum is also one of the main writers on Spot mail and has written lots of different articles to do with non surgical cosmetic treatments.
- London’s Brent is UK’s most unaffordable place to buy
- Newly built houses reach record price of £260,832
- Borrowers Warned About Lenders' Home Insurance and Life Insurance
- London rents hit record levels in June
- Interest Rates Go Up By 0.25 Percent