Gross lending 'still set to exceed 2005 levels'

BEAT THE ENERGY PRICE CAP INCREASE - SWITCH NOW!

 
The price cap is set to rise by £117 – switch supplier to cut your bills by up to £447* & the chance to win a Fitbit (T&Cs apply).

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

The total amount of money being loaned for mortgages and other purposes is set to exceed 2005 levels, according to new housing market forecasts for 2008.

Statistics from the Council of Mortgage Lenders (CML) also revealed that while inflation in the housing market is expected to slow next year and the amount being loaned out is to decrease, it will still be higher than market conditions two years ago.

Discussing the findings, CML director general Michael Coogan said the housing market was experiencing "its most challenging period since Labour came to power a decade ago".

He added: "We now expect a slower mortgage market next year, although by no means a stagnant one.

"Most borrowers will cope, but not everyone will escape unharmed from the effects of a slower market, so the government should make it a policy priority to overhaul the system of state support for homeowners, which has lagged pitifully behind the times."

The CML is a trade association which represents around 98 per cent of residential mortgage brokers in the UK market.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more