Latest figures show mortgage lending still subdued

After the results of the e.serv survey earlier this week it is no surprise that the latest figures from the Council of Mortgage Lenders (CML) confirm that mortgage lending is still subdued, if stable. For both home purchases and remortgages gross mortgage lending fell, on a month on month basis, by 1% in July to £12.6 billion pounds. The latest figures represent a fall of some 6% compared to this time last year. The message from the CML is that the housing market is “subdued but stable”. Their chief economist, Bob Pannell, said: "Underlying house purchase activity may drift lower over the ...