CML: House purchase loan figure rose in October
Date posted: 11 Dec 2009
The volume of house purchase loans recorded by the Council of Mortgage Lenders (CML) in October of this year was 140 per cent greater than the figure seen in January.
CML statistics reveal that while the first month of 2009 saw the advancement of 23,000 such loans, the tenth month of the year witnessed 55,000.
Michael Coogan, director general of the organisation, believes that things like interest rates may have led to these figures.
The volume of house purchase loans recorded by the Council of Mortgage Lenders (CML) in October of this year was 140 per cent greater than the figure seen in January.
CML statistics reveal that while the first month of 2009 saw the advancement of 23,000 such loans, the tenth month of the year witnessed 55,000.
Michael Coogan, director general of the organisation, believes that things like interest rates may have led to these figures.
He noted: "It appears that low interest rates for those with substantial deposits, coupled with this year''s sustained increases in house prices, are encouraging more people to buy or move home."
Following Alistair Darling''s Pre-Budget Report earlier this week, the Association of Mortgage Intermediaries'' director Robert Sinclair has suggested that the chancellor should have considered prolonging the current holiday on Stamp Duty.
He believes that this would have offered more support to the country''s housing market.
Click here to email or call on 0207 382 8060.
Partner
Our team work with commercial and residential developers, property investors and property funds, construction companies, registered providers, private clients and land owners.
Learn more...
