UK Mortgage lending up by 24% during May

According to the Council of Mortgage Lenders the gross mortgage lending during May was an estimated £12.2 bn. This represents a 24% rise from £9.9 billion in April and a 13% rise from May 2011 (£10.8 billion).

The Council of Mortgage Lenders’ is made up of member organisations including banks, building societies and other s specialist lenders. The CML undertake roughly 95% of all residential mortgage lending in the UK. There are 11.3 million mortgages in the UK, with total loans worth over £1.2 trillion. Read on…http://www.housetrade.co.uk/news-article/Mortgage-lending-up-by-24percent

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