Thread Status:
Not open for further replies.

Lack of finance still hampering property market recovery in UK

Discussion in 'UK Property' started by Nicholas Wallwork, Jul 21, 2009.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    [​IMG]Property lending in the UK is increasing but it is still at historically low levels and a major hindrance to a recovery in the real estate market, experts claim.

    The latest figures from the Council of Mortgage Lenders, which represents 98% of residential lenders, show that gross mortgage lending in June was 17% higher in June. But this is still nearly half what it was a year ago.

    Some £12.3 billion was lent in June compared with £10.5 billion in May. The report also shows that total gross lending in the second quarter of 2009 was £33.3 billion, unchanged from the previous quarter. Both quarters in 2009 have shown the lowest amount of mortgage lending since the first quarter of 2001.



    [​IMG] Click Here to Read The Full Story and Add your Own Comments to Lack of finance still hampering property market recovery in UK
     
Loading...
Thread Status:
Not open for further replies.

Share This Page