CML lending forecasts remain same
The Council of Mortgage Lenders' (CML) forecasts for lending and property transactions in 2009 remain the same as earlier in the year, the national body for home loans has announced.
Some 70,000 transactions should occur throughout the year, it claimed, while there is expected to be £145 billion of gross lending.
Although these predictions have not changed, there is positive news regarding home repossessions.
In the same statement, the CML indicated that there will be fewer properties in the UK repossessed than originally thought.
Instead of the predicted 75,000 properties, the organisation now thinks there will be 65,000 repossessions.
"The raft of measures taken by the authorities have stabilised the economy and will sow the seeds for a recovery over time, including in the housing market," said the council.
Effects of the low interest rates - it has been at 0.5 per cent since March - were cited as one of the main reasons for their revised calculations.
Mortgages for professionals provides no obligation mortgage advice to professional clients with high projected earnings from investment bankers, to accountants and solicitors.
Some 70,000 transactions should occur throughout the year, it claimed, while there is expected to be £145 billion of gross lending.
Although these predictions have not changed, there is positive news regarding home repossessions.
In the same statement, the CML indicated that there will be fewer properties in the UK repossessed than originally thought.
Instead of the predicted 75,000 properties, the organisation now thinks there will be 65,000 repossessions.
"The raft of measures taken by the authorities have stabilised the economy and will sow the seeds for a recovery over time, including in the housing market," said the council.
Effects of the low interest rates - it has been at 0.5 per cent since March - were cited as one of the main reasons for their revised calculations.
Mortgages for professionals provides no obligation mortgage advice to professional clients with high projected earnings from investment bankers, to accountants and solicitors.
