Mortgage lending reached £17.5 billion in June, according to estimates from the UK’s mortgage lending body.
Council of Mortgage Lending (CML) figures show lending rose 4 per cent from May’s £16.8 billion and is up 17 per cent compared to the £14.9 billion lent in June last year.
Over April, May and June mortgage lending was estimated at £50.8 billion, up 21 per cent from the same time last year.
Alan Cleary, managing director of Precise Mortgages, commented: “With yet more speculation that MMR [the Mortgage Market Review] is slowing down the market and the Bank of England will start to increase interest rates in the imminent future, it’s encouraging to see that buyers aren’t deterred.”
However Cleary said it was clear that many buyers were still struggling to find affordable properties and didn’t feel well-served by mainstream lenders.
“Our Mortgage Voice report revealed that almost a third of consumers believe that while access to mortgages has broadly improved, it‘s still not enough.
“Consumers need to be reassured that there are products on the market that cater to all credit worthy buyers and they can continue to climb the property ladder.”
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