Tuesday, July 8, 2008
CML reports slight increase after the battering in April
OFFICIAL PRESS RELEASE: Lending for house purchase increased slightly from April to May, according to the Council of Mortgage Lenders. Loans for house purchase increased by 4% in volume and by 2% in value; although both were 44% lower than May last year. However, there was a steep decline in remortgaging, down 14% since last month and 23% since last year. The value of remortgage lending declined by 13% since last month. --- NOTE: All figures relate to May 2008, not June 2008. These are lagging the Nationwide index.