Mortgage Lending in May higher than previous month.
In a news item published on their website yesterday:
The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £18.2 billion in May.
Lending was 4% higher than April (£17.6 billion), and 14% higher than May 2015 (£16 billion), and the highest May figure since 2008 when gross lending reached £23.7 billion.
They further reported in their Market Commentary June 2016
The result of the EU referendum will weigh on housing market activity over the next few months, as some buyers and sellers will adopt a wait-and-see attitude for the foreseeable future
Lending over the next few months is likely to be driven by remortgage customers, as house purchase activity takes a back seat
Given the governor’s statement following the referendum result, the UK is very unlikely to see a rate hike this year, and could possibly see a rate cut if the economy falters as a result of post-referendum uncertainty in the next few months
To read the (CML) Market Commentary June 2016 in full click here