News Categories

• Banking
• Breakdown Cover
• Car Insurance
• Credit Cards
• Home Insurance
• Insurance
• Life Insurance
• Loans
• Money
• Mortgages
• Pensions
• Pet Insurance
• Travel Insurance

News Archive

• May 2012
• April 2012
• March 2012
• February 2012
• January 2012
• December 2011
• November 2011
• October 2011
• September 2011
• August 2011
• July 2011
• June 2011

Newsletter

Mortgage lending and house buying up in May

By Jonathan Dawes, Mon 11 Jul 2011 - Published in Mortgages

The number of house purchases and remortgaging both increased during May, according to figures from the Council of Mortgage Lenders (CML).

Its study revealed that there were 41,500 mortgages, collectively worth £5.9 billion, made available to Brits for property purchases throughout the month.

This figure was up from April when 40,800 loans were issued to UK house hunters.

Michael Coogan, director general of CML, said: "There is no evidence of any drastic changes on the horizon or any significant shifts in direction for the mortgage market.

"These stable conditions are expected to continue for the rest of the year."

Recently, research by unbiased.co.uk revealed that demand for mortgage advice from first-time buyers (FTB) has hit an annual high.

The firm's report highlighted that 40 per cent of FTBs searched online for financial help about mortgages, over a third of people looked for retirement plans and over a quarter of Brits wanted information on investment and savings.