More mortgage loans predicted in 2013

From MindfulMoney :: Mindful Money
January 20, 2013 - 7:00pm

Banks loaned £11.7bn in December 2012 taking the total for the year to £143bn according to trade body the Council of Mortgage Lenders (CML) though this was just £2bn more than 2011. In 2013 the CML expects to lend £156bn and says this rise should come about partly because of the Goverment's funding for lending scheme. CML chief economist Bob Pannell says: "We are more positive about the UK housing market and wider economy than a year ago, despite economic headwinds and downside risks. A key reason is that lenders currently face few funding pressures, in part reflecting the funding for lending scheme. House purchase activity was robust in the fourth quarter, on the back of better mortgage availability and pricing, and we expect this to continue over the coming months." The trade body accepts that this may be counter-intuitive because ...

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