Monday, June 20, 2011
Still going strong that well used line of Royal Weddings and Easter Holidays
Gross mortgage lending increased by 12% in May compared to the previous month, Council of Mortgage Lendersâ€™ figures show. Gross lending totalled an estimated Â£11.3bn in May, up from Â£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 â€“ as April Bank of England approvals data indicate.