23 Jun

'Cautious optimism' remains about mortgage market

'Cautious optimism' remains about mortgage market

Experts are remaining cautiously optimistic about the UK mortgage market, according to individual financial adviser firm Bestinvest.

Head of mortgages at the group Peter O'Donovan predicted that lending may start to increase at a faster rate in the coming months.

The comments come after the Council of Mortgage Lenders (CML) published figures suggesting that gross mortgage lending totalled around £10.3 billion in May.

This figure represented a two per cent decline on the previous month, but Mr O'Donovan remained hopeful of more positive news in the CML's forthcoming surveys.

Explaining his views on the research, the head of mortgages said: "I don't think it shows a dampener, because there's only a two per cent change in the monthly figures."

He also claimed that many experts showed cautious optimism "earlier on", before adding that "there's a similar amount to what was lent last month".
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