24 Jun

CML has positive predictions for mortgage market

CML has positive predictions for mortgage market

The Council of Mortgage Lenders (CML) has suggested that the outlook for the UK mortgage market is far more positive than previously predicted.

In its forecasts for housing transactions and gross lending, the group is expecting 700,000 transactions and £145 billion of gross lending to take place.

The outlook for net lending is even more positive, the CML predicts, as it is though that it will only fall by around £5 billion instead of the £25 billion that was initially anticipated.

As a result, those making a property purchase and who are looking to take out a mortgage could benefit from the lower interest rates.

It was stated by the CML: "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."

Meanwhile, managing director of FirstRungNow.com Helen Adams confirmed recently that first-time buyers are discovering that there are now more loans available for them than there have been in recent times.

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