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Gross Mortgage Lending Flat in May

‘Gross mortgage lending in May was £16.5bn, according to the Council of Mortgage Lenders, the same as in April and 12% higher than May last year.

“Market indicators point to a slowdown in activity levels, in part associated with new mortgage rules, but it is unclear how lasting this will be,” said CML chief economist Bob Pannell, who described the results as a “statistical fog”.

“As this lifts over the coming months, a clearer picture as to any lasting impact of the MMR rules on lending activity should emerge,” he added.’

Sources: The Daily Telegraph, The Independent, Independent I, Daily Mail

Myfanwy Neville

Partner, Property and Construction

T +44 (0)20 8922 9376
E myfanwy.neville@bkl.co.uk

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