Mortgage lending up 36%

23rd May 2014

UK mortgage lending in April was 36% higher than a year ago, according to a new report from the Council of Mortgage Lenders (CML).

Gross lending was up 8% on March to a total of £16.6bn. The news comes amid concerns that the housing market is overheating. CML chief economist Bob Pannell said the Bank of England is likely to intervene in the housing market sooner rather than later, adding that any measures it introduces will be careful, calibrated, and proportionate, and designed to reinforce prudent affordability checks, rather than to apply the brakes to the housing market in a more dramatic fashion.

Source: BBC News (21/05/2014)