Wednesday, May 21, 2014
CML: Mortgage lending up 35% yoy in APRIL
UK mortgage lending in April was 36% higher than a year ago, a lenders' group says, as a major bank moves to cool the housing market in London. Gross lending was up 8% compared with March to an estimated total of Ã‚Â£16.6bn, according to the Council of Mortgage Lenders (CML). The figures come shortly after Lloyds Banking Group said it would limit lending for higher-value homes. The data includes the first week of implementation of new mortgage rules. Barclays also said that they will lend up to 5.5 times income in certain scenarios.