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Lending bounced back in May - CML
wotsthat
Posts: 11,325 Forumite
http://www.cml.org.uk/cml/media/press/3257
Worth a read - FTB levels have 'bounced back' from the low April levels too.
The slump in activity that followed the end of the first-time buyer stamp duty holiday appears to have been short-lived as house purchase lending increased substantially in May, According to new statistics released today by the Council of Mortgage Lenders.
In May, house purchase lending increased by 36% compared to April and 29% compared to last May. The number of loans also increased, by 33% from April and by 24% from a year ago.
Remortgage lending also increased in May with £3.5 billion advanced for remortgage. This was up from £3.1 billion in April but down from £3.8 billion 12 months ago when there was a greater expectation of interest rate rises.
Worth a read - FTB levels have 'bounced back' from the low April levels too.
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