21
Oct
CML data "a very positive sign"
Recent figures released by the Council of Mortgage Lenders (CML)
represent "a very positive sign" for the housing market, according
to one sector commentator.
Stuart Law, chief executive at Assetz, made his remarks after the
CML issued research indicating that gross mortgage lending stood at
£12.5 billion in September.
This is a rise of two per cent from the £12.3 billion recorded
by the body in the previous month.
Of the data, Mr Law said: "It is a very positive sign."
He stated that while the current mortgage lending figures are not
as favourable as they were in 2007, mortgage lending has
"materially recovered".
Mr Law said that the figures may not be as positive as those from
two years ago because of the reduced availability of low-deposit
mortgage products.
Concluding, the sector expert suggested that the property market
will be able to make a full recovery in around 18 months.