Mortgage lending up in June, says CML | Money | The Guardian
The mortgage market picked up in June as the number of first-time buyers and home movers increased, figures from the Council of Mortgage Lenders (CML) showed. However, the number of home loans remained low by historical standards.
The CML figures show 46,700 mortgages were advanced for house purchases during the month – an increase of 22% on May's figure but down 11% year-on-year. The value of the loans also increased over the month from £5.9bn to £6.7bn.
Of these loans, 18,100 were made to first-time buyers. This figure was up 24% on May but was 8% lower than June last year. Home movers accounted for 28,600 loans – up from 23,800 in May, but down from 32,800 in June 2010.
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