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Press Release

Gross mortgage lending up 24 per cent in May

21 June 2012

Gross mortgage lending in May was an estimated £12.2 billion, according to the Council of Mortgage Lenders. This represents a 24% rise from £9.9 billion in April and a 13% rise from May 2011 (£10.8 billion).

In today's CML market commentary, CML chief economist Bob Pannell comments:

“The government has recently announced a number of measures to counter the adverse effects from the Eurozone crisis. It clearly senses an opportunity to bolster home ownership and housing activity, and we look forward to hearing more details about the “funding for lending” initiative which seeks to deliver this.

“Meanwhile, mortgage lending continues to seesaw, albeit against a broadly flat market. Unfortunately, a number of one-off factors, such as the Diamond Jubilee and the Olympics, are set to distort market indicators over the coming months, and it may be the autumn before we can more accurately gauge the state of the market.”




Press releases, papers and documents published on this page are the intellectual property of an organisation unrelated to Central Lobby. We promote their parliamentary and political campaigning activities as they are subscribers to the Central Lobby service.

As such, Central Lobby does not edit, endorse, or attempt to balance the opinions expressed on this page. The content of press releases and other such types of content are the responsibility of the originating organisation.

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