Peter Rollings responding to the latest CML lending data
Wed 12 Sep 2012
"Any pick-up in the mortgage market will be welcomed with open arms by buyers, given the historically low level of lending that has been placing a ceiling on the number of home moves taking place. Particularly encouraging are the signs of a slight easing of lending criteria, with the average LTV for first-time buyers rising above 80% for the first time since 2008. Theres clearly a long way to go before money is easy enough to borrow for a concerted recovery in first-time buyer numbers, but with the impact of the funding for Lending Scheme still to filter through, these figures provide some solace for those struggling to save the lump sums banks and building societies have been typically requiring as a deposit."