Today saw the release of the latest set of data from the Council Of Mortgage Lenders, (CML) stating that Gross Mortgage Lending rose by 5% in July compared to June, although this is still 3% down from July 2009.
In total Gross mortgage lending was an estimated £13.6 billion in July, increasing from £12.9 billion in June and compared to £14 billion in July 2009.
The modest rise in mortgage activity we’ve seen since June has been set against a low base, and although there has been a noticeable rise in the number of products available to borrowers, and more lenders returning to the market, the mortgage landscape is by no means close to returning to “normal”.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
