Monday, June 20, 2011

Still going strong that well used line of Royal Weddings and Easter Holidays

Gross mortgage lending up 12% in May

Gross mortgage lending increased by 12% in May compared to the previous month, Council of Mortgage Lenders’ figures show. Gross lending totalled an estimated £11.3bn in May, up from £10.1bn lent in April and 1% higher than in May 2010. The increase represents a bounce back after a 14% drop in April blamed on the Royal Wedding and Easter holidays.The data includes lending for both house purchase and remortgage. Despite a modest pick-up in overall lending activity during May, lending for house purchase is running below year earlier levels – as April Bank of England approvals data indicate.

Posted by jack c @ 10:32 AM (1522 views)
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3 thoughts on “Still going strong that well used line of Royal Weddings and Easter Holidays

  • It would be interesting to know the split between ‘home purchases’ and ‘equity release’. I expect the bankers want to keep that part quiet.

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  • cornishtinmine says:

    So allowing for the Royal Wedding and Easter holidays lending is down 2% over the last 2 months?

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