CML gross lending forecast remains the same
The Council of Mortgage Lenders' (CML) gross lending forecast for 2009 remains the same despite a fall in lending in April.
It is expected that lending will total £145 billion this year, according to the organisation.
Seasonal reasons have been cited for April's drop in lending - compared to the same month in 2008 - because Easter fell during the month. This is traditionally a time when mortgage borrowing activity slows.
Overall, the total was down 57 per cent year-on-year.
CML director general Michael Coogan said: "It's still too early to spot a clear pattern of recovery in the housing market as some commentators have suggested.
"Activity remains weak, and we have said we will see volatility in monthly lending figures as we bounce along at the bottom of the market."
Positive news came from a Halifax survey this month, which suggested that now is the best time in six years for first-time buyers to join the property market.
To book your free initial consultation with mortgages for professionals click here.
It is expected that lending will total £145 billion this year, according to the organisation.
Seasonal reasons have been cited for April's drop in lending - compared to the same month in 2008 - because Easter fell during the month. This is traditionally a time when mortgage borrowing activity slows.
Overall, the total was down 57 per cent year-on-year.
CML director general Michael Coogan said: "It's still too early to spot a clear pattern of recovery in the housing market as some commentators have suggested.
"Activity remains weak, and we have said we will see volatility in monthly lending figures as we bounce along at the bottom of the market."
Positive news came from a Halifax survey this month, which suggested that now is the best time in six years for first-time buyers to join the property market.
To book your free initial consultation with mortgages for professionals click here.
