Highest ever mortgage figures for January

20/02/2007

The Council of Mortgage Lenders (CML) had found out that mortgage lending has reached a high peak for January. This is due to the more and more people coming into the United Kingdom on a whole.

In January the gross mortgage lending was £26.8 million, this is 16% more than January 2006, CML had investigated further.

The British Bankers Association (BBA) stated that consumers paid a large amount off their credit cards, a large figure such as £500m during January.

They also said that the funds borrowed through credit cards and loans had also increased by £500 million.

Today people are need of credit and lenders are benefiting more as time passes by.

There was a hint at present of a strong predicted slowness in the UK housing market, this was added by the BSA firm.

"Indications of a slowing [housing] market are not coming through in building society mortgage figures yet," BSA business economist, Andrew Gall, said.

"We may continue to see robust mortgage figures in the near future, but expect these to fall back as the impact of recent rate rises feeds through," Mr Gill spoke.

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