Mortgage lending has set new records in January 2006.
The main British banking groups records show that 25 per cent more money was given out in mortgages in January 2006 than in January 2005, £14.5 billion in fact.
Moreover, there was an increase in numbers of mortgages agreed, 140,020. This was 8% higher than in January 2005, with the average of a mortgage for a house purchase in January being £126,800.
The Council of Mortgage Lenders (CML) stated that £23bn was lent last month, the highest January lending figure on ever.
Overall, mortgage lending has increased in recent months. This mirrors the fact that consumers feel more certain about the future of the housing market and are confident that house prices are highly unlikely to fall.
Futhermore, the mortgage market is likely to continue growing steadily with a backdrop of positive economic conditions.
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Mortgage Lending Rises By 25 Per Cent Tue, 28 Feb 2006
     Recommended linksMortgage Lending IncreasesMortgage Lending On the Up For All Types of Mortgages The Council of Mortgage Lenders official site |
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