Wednesday, November 11, 2009
“Lending to home buyers may have reached a plateau”
The recent rise in mortgage lending to house buyers has levelled off, the Council of Mortgage Lenders (CML) says. In September, 51,000 mortgages were agreed for house purchase, up from 50,000 in August but lower than the 53,000 recorded in July. "Although the recent bounce-back in house purchase activity is holding up, we remain some way below what might be called 'normal' levels of transactions," said CML economist Paul Samter. The UK property market has staged a recovery since the spring with sales and prices picking up again after the dramatic slump caused by the credit crisis.