Opinion Former Article

CML: Lending bounced back in May following end of stamp duty concession slump

The slump in activity that followed the end of the first-time buyer stamp duty holiday appears to have been short-lived as house purchase lending increased substantially in May, according to new statistics released today by the Council of Mortgage Lenders.

The full release is attached and available from the website here:

Full historical tables are available on request from the press office.

1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK. There are 11.3 million mortgages in the UK, with loans worth over £1.2 trillion.

2. Source: CML Regulated Mortgage Survey.

3. The Council of Mortgage Lenders does not publish statistics for mortgage approvals. The data in our monthly Regulated Mortgage Survey and gross lending press releases relate to mortgage advances only. A mortgage approval is the firm offer to a customer of a specific amount of credit secured against a particular property. A mortgage advance is the total amount of loan actually provided to the buyer, by the lender. Please see the mortgage statistics timeline on our website for further information.

4. The June 2012 data will be released on Monday 13 August 2012.

Jayne Walters – 020 7438 8922
Sue Anderson – 020 7438 8923
Bernard Clarke – 020 7438 8923
Jayne Walters – 07983 388764
Sue Anderson – 07983 388755
Bernard Clarke – 07983 388672
twitter: www.twitter.com/cmlpressoffice

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