LONDON (MNI) – Gross mortgage lending rebounded in May, after April
business was hit by two Easter Bank Holidays and an extra Royal Wedding
Bank Holiday.
Gross mortgage lending rose to stg11.3 billion in May, 12% up from
April’s stg10.1 billion but just 1% up on the same month a year ago.
The CML believe the data are compatible with a UK housing market
which is flatlining.
“Gross mortgage lending in May recovered after low activity levels
in April. Distorting effects from Easter and bank holidays cloud the
current picture, but the likelihood seems to be for essentially flat
levels of lending over the next couple of months,” CML director general
Michael Coogan said.
–London newsroom: +44 7 862 7491 email:drobinson@marketnews.com.
[TOPICS: MABDS$,M$BDS$,M$B$$$]
