Mortgage lending jumps in June but volumes stay below pre-crisis levels

first_imgWednesday 11 August 2010 8:29 pm whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot Share Mortgage lending jumps in June but volumes stay below pre-crisis levels Show Comments ▼ center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd whatsapp HOME loan volumes picked up in June but still languished at about a third of their pre-financial crisis levels, according to the Council of Mortgage Lenders (CML).Banks and building societies extended £13.1bn of credit to housebuyers in June, an increase of 15 per cent on May’s figure and seven per cent up on the previous year. First-time buyers were among those who benefited in the uplift, with the number of loans going to people without a foot on the property ladder increasing 20 per cent month-on-month to 19,400.The total sum lent for mortgages in the second quarter – £35bn – was up marginally on last year, but remained well below the £93.9bn handed out in the same period of 2007. The CML warned the property market was unlikely to surge upward in the next six months.“Transaction levels are subdued and likely to remain so while access to credit is constrained,” said CML economist Paul Samter.The industry body also found fixed-rate home loans making a comeback. Nearly half of borrowers – 48 per cent – chose a fixed-rate mortgage in June, despite a historically low base interest rate of 0.5 per cent. This was due to lenders cheapening their deals. KCS-content last_img read more