You are here: Home - News -

Lending reaches record heights in July

by:
  • 05/09/2002
  • 0
Mortgage lending set new records in July as gross lending totalled £21.8bn, an increase of 41% compa...

Mortgage lending set new records in July as gross lending totalled £21.8bn, an increase of 41% compared with last year, according to CML figures. These levels follows a quiet June, interrupted by both the Jubilee and the World Cup. The number of loans in July reached another record at 147,000. Four out of five borrowers opted for variable rate loans, the highest proportion since the mid-1990s. The CML put this down to fears of interest rate rises receding. The average first-time buyer borrowed £83,406, representing 75% of the value of the property, or 2.57 times income.


Tags

There are 0 Comment(s)

You may also be interested in

  • My week on Twitter 🎉: 58 Mentions, 68.8K Mention Reach, 97 Likes, 31 Retweets, 45.3K Retweet Reach. See yours with… https://t.co/tNg0C9TSQ7
  • Congratulations to our finalists for Broker: Rising Star – Distributor - James Berry from Moneysprite, Ali Khan fro… https://t.co/y8UyT0CbMH
  • Our finalists for the #BMA2019 Lender: Business Development category are Nathan Bridgeman from Nationwide Building… https://t.co/rs9FuEIQhh

Read previous post:
Flexible deals help 25% of borrowers overpay

A quarter of those with flexible mortgages are either overpaying by 100%, or adding lump sums to red...

Close