Monday, January 23, 2012
Obligatory non-headline of the day rehashing a CML press release
The state of the UK mortgage market in the coming year is "difficult to call", according to a lenders' group. The Council of Mortgage Lenders (CML) said the eurozone crisis had created uncertainty, although householders' real incomes could stabilise. The latest CML figures showed that UK gross mortgage lending stood at Â£11.7bn in December. This was down 12% on November, but up 12% compared with December 2010, the CML said. The figures wrap up a year in which mortgage lending has remained at low levels, in a market that has proved difficult for first-time buyers to access unless they could raise a large deposit. The CML said that lending totalled Â£140bn in 2011 as a whole, up 3% compared with 2010, when the market was similarly stunted.