Tuesday, March 20, 2007

Mortgage lending down for 4th successive month

CML put spin on 'record' February mortgage figures despite being 7 percent down on January 2007

The Firstrung team are not entirely sure what the CML are trying to prove here; mortgage lending fell in February by 7%, the bulk of the "gross mortgage" lending refers to either re-mortgaging or equity release, which have been the only 'growth areas' in the mortgage lending market for some time. In relation to the CML take on first time buyer activity, by their own admission the CML figures are inaccurate containing as they do; returners, divorcees and buy to let investors buying their first BTL property.

Posted by converted lurker @ 11:36 AM (516 views)
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