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 market 'still struggling'

By Jonathan Dawes, Fri 20 Jun 2008 - Published in Mortgages

Mortgage loans were down in May in comparison to April, according to statistics released by the Council of Mortgage Lenders (CML).

Approximately £24.5 billion was lent during the course of the month, a drop of two per cent from the £26.1 billion handed out in April and a fall of 19 per cent from the £31.5 billion given to borrowers at the same time last year.

The CML states that the remortgage market has seen most activity and it insists that, despite the gloomy economic climate and funding constraints, a wide range of banks and building societies are still offering a variety of mortgage deals.

Director general at the CML Michael Coogan said: "The next few months will remain weak for house purchase activity for the funding reasons which are now well rehearsed."

This news comes as the Building Societies Association reveals that a quarter of Brits still think that it is a good time to invest in property.