Response to CML's mortgage lending statistics to October 2014
Thu 20 Nov 2014
Peter Rollings, CEO of Marsh & Parsons, comments:"Following the considerable swell at the beginning of the year, the current tide of the housing market has soothed lately. Property price rises have relaxed into a more sustainable pace but growth has certainly not hit the rocks and this is just a natural turn in the lifecycle of a market. Theres a renewed spring in the step of mortgage lending this October, climbing 5% over the month. And the introduction of the Mortgage Market Review and stricter affordability regulations this April have not clouded the overall progress that has been made over the past year.
"With an interest rate rise not expected before late next year, spurring on a host of attractive mortgage products, buyers and sellers still have a lot to be feeling confident about. Calmer trading conditions, more choice on the market, and less fierce competition will ensure activity finishes on a strong note at the end of the year."