CML: Remortgaging in August more than 30% higher than last year

Tuesday, 11 October 2011 12:24 PM

Remortgaging continued to increase in August, according to new figures released today by the Council of Mortgage Lenders. With 34,100 loans taken out (worth £4.2 billion), both the volume and value were more than 30% higher than August 2010.

The full release is attached and available from the website here: http://www.cml.org.uk/cml/media/press/3051


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

1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 94% 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 September 2011 data will be released on Friday 11 November 2011.


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