Newsletter
04/02/2010 Personal loan rates reach nine year peak despite record low base rates
Risk continues to be the focus in all lending activity, but with no guarantees on the debt being repaid, unsecured personal loans have seen...
Council Of Mortgage Lenders
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The Council of Mortgage Lenders represent around 98% of the UK residential lending industry. Their goal is to promote a thriving environment for the housing and mortgage markets.
They provide a forum for lenders to discuss common issues, and represent the lending industry to government, regulators and the media.
They offer a wide selection of publications, press releases and statistics free of charge on their website. "What's new?" is a great starting point for the latest information.
Gross mortgage lending falls 8% in November - CML
Gross lending declined to an estimated £30.7 billion in November, down 8% from £33.5 billion in October and 8% from £33.2 billion in November 2006, according to the Council of Mortgage Lenders...
This is the first time that monthly lending levels have dropped below the same month in the previous year since July 2005, and clearly demonstrates the market slowdown has started.
CML director general Michael Coogan commented:
"As we had forecast, lending in November dipped below its 2006 equivalent for the first time this year and we expect this trend to continue into 2008. However, while lending will be subdued in coming months we see this as primarily a result of lack of available funding rather than lack of consumer demand.
"We welcome the recent initiative by the Bank of England with other central banks to inject liquidity. This support needs to continue, and be increased, in the coming months."
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