Peter Rollings responding to the latest CML lending data
Wed 12 Dec 2012
"By recent standards, lending hit a relative purple patch in October, making up for a fairly dismal summer mortgage market. The Funding for Lending scheme is bringing down mortgage rates, and many of those who delayed purchases earlier in the year and can meet lenders tight criteria have been taking advantage. However, its crucial that lenders do not take their eye off the ball and allow this progress to peter out. High LTV mortgages remain a rare breed, and we are still seeing nowhere near the number of people able to move each month as we did pre-crunch. Octobers improvement is good news for buyers and sellers alike, but for the housing market to build momentum next year, it must not be one of a kind."