My OperaMortgage market 'stabilising'
Friday, November 27, 2009 2:54:16 PM
The mortgage market is becoming more stable, although it has still not recovered, an industry body has said.
According to the Council of Mortgage Lenders (CML), in June 45,000 loans for purchasing houses were made - up by 23 per cent from May's figure.
But this was still six per cent less than during the same month in 2008.
In addition, June's house purchase loans were worth £5,900 million.
This was 26 per cent more than in May but 17 per cent below the statistic for June 2008.
Remortgages were up in number by 13 per cent from May but 55 per cent less than they had been in the same month last year.
They were also worth 60 per cent less than they had been in June 2008, though they shifted up by 14 per cent on the previous month.
In July, the CML reported that the restrictions on mortgage lending were beginning to loosen and that some higher loan-to-value deals were becoming available.
According to the Council of Mortgage Lenders (CML), in June 45,000 loans for purchasing houses were made - up by 23 per cent from May's figure.
But this was still six per cent less than during the same month in 2008.
In addition, June's house purchase loans were worth £5,900 million.
This was 26 per cent more than in May but 17 per cent below the statistic for June 2008.
Remortgages were up in number by 13 per cent from May but 55 per cent less than they had been in the same month last year.
They were also worth 60 per cent less than they had been in June 2008, though they shifted up by 14 per cent on the previous month.
In July, the CML reported that the restrictions on mortgage lending were beginning to loosen and that some higher loan-to-value deals were becoming available.
