{"id":91,"date":"2007-04-23T11:52:49","date_gmt":"2007-04-23T11:52:49","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/mortgage-lending-continues-to-boom\/"},"modified":"2007-04-23T11:52:49","modified_gmt":"2007-04-23T11:52:49","slug":"mortgage-lending-continues-to-boom","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/04\/23\/mortgage-lending-continues-to-boom\/","title":{"rendered":"Mortgage lending continues to boom"},"content":{"rendered":"<p class=\"MsoNormal\"><span style=\"font-size: 10pt\"><!-- S BO --><!-- S IIMA -->Mortgage lending is still rising strongly, says the Council of Mortgage Lenders (CML).<\/span><span style=\"font-size: 10pt\"> <\/span><\/p>\n<p><span style=\"font-size: 10pt\">Total lending in March amounted to \u00c2\u00a331.3bn &#8211; 10% higher than a year ago and another monthly record. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">The British Bankers Association (BBA) says net mortgage lending, which strips out the effect of repayments, rose by \u00c2\u00a35.1bn in March. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">The continued strong lending has come despite three rises in interest rates since last summer. <\/span><\/p>\n<p><!-- E SF --><span style=\"font-size: 10pt\">With house prices still rising briskly, and now standing about 10% higher than a year ago, it is little surprise that mortgage lending has kept pace. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">Other recent industry data on mortgage approvals and enquiries from new buyers has all pointed in the direction of the market staying buoyant in the coming months. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">Despite widespread expectations of further rises in the cost of borrowing this year, the CML predicts that lending will stay at record levels. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">&#8220;There is still a question mark over just how strong mortgage lending will be over the coming months as the prospect of higher interest rates takes its toll on demand,&#8221; said the CML&#8217;s director general Michael Coogan. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">&#8220;But we continue to expect mortgage lending to reach a record \u00c2\u00a3360bn this year,&#8221; he added. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">The BBA took a more cautious view of the likely short-term trends in mortgage lending. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">&#8220;In the last two months, demand has moderated a little and, with no short-term prospect of costs reducing, mortgage lending growth should ease further in the months ahead,&#8221; said David Dooks, the BBA&#8217;s director of statistics. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">Meanwhile, the amount of money being lent on credit cards continued to fall, with net borrowing on cards issued by the major banks dropping by another \u00c2\u00a3117m last month. <\/span><\/p>\n<p class=\"MsoNormal\"><!-- E BO -->Source: bbc.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage lending is still rising strongly, says the Council of Mortgage Lenders (CML). Total lending in March amounted to \u00c2\u00a331.3bn<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[23,48],"tags":[],"class_list":["post-91","post","type-post","status-publish","format-standard","hentry","category-house-market","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/91","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=91"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/91\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=91"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=91"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=91"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}