Peter Rollings responding to the latest CML lending figures
Fri 21 Dec 2012
"There are signs that the mortgage market is finally finding its feet, as gross lending rose for a second successive month in November. And with banks and building societies rushing to hit end of year lending targets, December is likely to see a healthy total too. The impact of the Funding for Lending scheme is clearly starting to be felt, and thousands of buyers have been taking advantage of the cheaper rates on offer to move before Christmas. However, the concern remains that it is not yet hitting the mark with those without substantial deposits. For lending in 2013 to hit the CMLs more optimistic estimate, lenders will need to redouble their efforts to target first-time buyers with higher LTVs, or we will see the lower tiers of the property market fall even further behind the top tier in the New Year."