Peter Rollings commenting in response to the latest figures from the CML
Mon 12 Sep 2011
"Whilst it's true that we are a long way from the pre-downturn level of lending, the CMLs latest figures make for more upbeat reading. House purchase loans are showing signs of recovery as buyers look to take advantage of the really excellent loans on offer at present. While first-time buyer numbers didn't pick up in July, we think that this was as much to do with many buyers taking a temporary summer hiatus as the availability of mortgage finance. For those with good sized deposits, there are some really great deals available on the market and even for those financially sound buyers with smaller deposits, there are still very good deals out there. In fact, rates are so attractive at present that many who would have been prime cash buyers previously are taking advantage of the situation to top up their buying budgets when moving home. If affordable mortgage deals continue to improve - and buyers act to take advantage of the historically low rates activity levels may begin to rise accordingly in many parts of the country."