Send to a friend

CML: Mortgage industry is past the worst

02 July 2009

Those looking to sell their property and move house may be pleased to hear the latest news from the Council of Mortgage Lenders (CML).

UK lending figures have increased for the fourth consecutive month and, according to the organisation, the industry is "past the worst in terms of mortgage business".

However, the CML did warn people not to be too optimistic just yet, as there could still be some volatility in the market in the coming months.

Furthermore, the level of housing transactions is still fairly low.

Bernard Clarke, communications manager at the CML, said: "You need to look at what's happening over a succession of monthly returns and monthly data to get a clearer picture of trends in the market."

At the end of June, the Bank of England revealed that 3,414 mortgages were approved in May 2009, compared to 38,280 in February.

Those who have just received the go-ahead from their mortgage application may want to ensure that the move into their new home suns smoothly with the help of storage facilities.

Written by Graeme Pieterson
ADNFCR-789-ID-19247485-ADNFCR