Latest mortgage figures 'are encouraging'
25th Jun 2012
The latest statistics indicating that there has been a rise in gross mortgage lending in the UK is good news for the country, one expert has observed.
Ray Boulger, senior technical manager at independent mortgage adviser John Charcol, said that although the figures for the last few months have been distorted by the stamp duty holiday coming to an end, they were stronger than what was generally expected, which is encouraging.
His comments came after data published by the Council of Mortgage Lenders reported that gross mortgage lending in May was an estimated £12.2 billion, which represents a 24 per cent rise on April's £9.9 billion.
Mr Boulger commented: "What we have found at John Charcol is that the increased level of activity in the first couple of months of the year – which initially one put down partly to the run-up to the stamp duty exemption [ending] - actually didn't really fall off."
Enquiry levels have largely remained constant throughout the year, so the improved figures should not come as much of a surprise, he explained.
Though certain areas of the country are likely to be performing better than others, it is encouraging to see that the national average is improving, Mr Boulger added.
Posted by Staff Writer: Robin Stenson
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