14 Aug

Increase in mortgage lending is "pleasantly surprising", expert says

Increase in mortgage lending is "pleasantly surprising", expert says

The recent increase in mortgage lending is "encouraging", according to a property adviser.

Ray Boulger, senior technical manager at independent mortgage firm John Charcol, said that the rise in the number of mortgages being advanced is "pleasantly surprising", constituting further evidence of a "steady improvement for most of the year".

His comments follow the publication of figures from the Council of Mortgage Lenders (CML) which showed that at 45,000, there were 23 per cent more house purchase loans in June than in May.

"I'm pleasantly surprised. That's a bigger increase than I was expecting, so that's encouraging," said Mr Boulger.

"It's interesting also that remortgaging activity has picked up as well."

The CML report demonstrated that remortgaging activity had grown, with the number of loans seeing a 13 per cent increase from May to stand at 34,000 in June.

Meanwhile, Unbiased.co.uk revealed this week that enquiries about remortgaging are at their highest level since December 2008.

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