LONDON (MNI) – Gross mortgage lending fell back sharply in April,
with April seeing two Easter Bank Holidays and an extra Royal Wedding
Bank Holiday.
Gross mortgage lending fell to stg9.8 billion in April, 14% down
from the stg11.4 billion seen in March and down 5% from the stg10.3
billion seen in the same month a year ago, according Council of Mortgage
Lenders data.
The CML said in light of the timing of Easter and the Royal Wedding
“it is difficult to gauge underlying trends with any certainty.”
CML chief economist Bob Pannell said “Statistical noise, associated
with extended holidays around Easter and the royal wedding, makes it
harder to read the immediate market situation.”
He added, however, “Levels of activity look set to remain broadly
flat over the near-term.”
–London newsroom: +44 7 862 7491 email:drobinson@marketnews.com.
[TOPICS: MABDS$,M$BDS$,M$B$$$]