Mortgage lending strongest for 8 years
Lending for June 2016 was at its highest since 2008, the Council of Mortgage Lenders has reported.
An estimated £56.1 billion worth of mortgages was taken out over the second quarter of 2016 – 8% higher than the second quarter of 2015.
It is mainly due to low interest rates and flexible lender criteria that have kept lending strong.
‘It’s no surprise that lending figures were strong in June with rates continuing to remain low,’ says David Blake of Which? Mortgage Advisers. ‘Some lenders have even started to drop their rates again. It’s a great time for anyone thinking about taking out a mortgage or reviewing an existing one’.
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