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Gross Mortgage Lending Rises
The Council of Mortgage Lenders (CML) have published figures that in March the gross mortgage lending figure was an estimated £11.5 billion. This is a 24% rise from February and also a 3% rise from March 2009.
CML economist Paul Samter commented: “Overall, housing and mortgage activity remains subdued, but is comfortably higher than in the depths of the recession a year ago. With the gradually improving economic backdrop and interest rates still low, we continue to expect a gentle improvement in market conditions later in the year.”
