Peter Rollings, CEO of estate agent Marsh & Parsons commenting on the CML gross lending figures
Wednesday, 20 April 2011
"The green shoots of a seasonal recovery in lending are emerging, but let's not be fooled into thinking the market is blossoming. Even with the strong monthly bounceback in March, gross lending was 2% lower than a year ago. The appetite is there from buyers, but this is still not being matched by banks and building societies’ desire to lend. In the capital especially, there’s no shortage of demand from would-be buyers – and there has been fierce competition amongst cash investors for London’s bricks and mortar. But the number of sales taking place is still being hampered by the ongoing choke on finance for first-time buyers. Unless more assistance from lenders comes their way, the first rung on the property ladder will remain far from reach for thousands."
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