Liquid error: wrong number of arguments (2 for 1) Mortgage lending decline | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

Mortgage lending decline

Wed 25 Mar 2015

Gross mortgage lending in the UK reached 13.4 billion in February, 9 per cent down on both January and last February, the latest figures from the Council of Mortgage Lenders show.

This is the lowest monthly estimate for gross mortgage lending since April 2013, when lending totalled 12.4 billion.

The weaker lending figures have not come as a surprise to the industry.

"Seasonal factors tend to weigh on activity at the start of the year, but looking through these, the underlying picture appears to be stabilising." said CML chief economist Bob Pannell.

"We expect lending to improve in the coming months, as employment and earnings continue to pick up and the impact of recent stamp duty reforms start to feed through."

Peter Rollings, chief executive officer of Marsh & Parsons, believes too much should not be read into the data as 2014 was an exceptional year and a formative one with major changes to the borrowing process.

He said that 2015 marks a return to more normal patterns of behaviour.

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close