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Article: Mortgage lending hits GBP 21bn
- Article from:
- The Scotsman
- Article date:
- May 22, 2003
- Author:
CopyrightCopyright 2003 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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MORTGAGE spending continued to soar last month, according to
figures released yesterday, which showed lending hit GBP 21 billion,
up from GBP 19.7bn in March.
The return represents the highest monthly figure since October
last year and shows a 28 per cent increase on the April 2002 figure
of GBP 16.4bn, according to the Council of Mortgage Lenders (CML).
Remortgaging continued to drive the market, accounting for 51 per
cent of all lending or GBP 10.7bn, 70 per cent higher than in April
2002. However, loans for house purchase only showed a modest
increase, up to GBP 8.4bn in April, compared to GBP 8.2bn in March.
The figure is nearly 9 per cent lower than the GBP 9.2bn lent in
April 2002.
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