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13/08/2009
Housing lawyers may get busier as mortgage rise beats expectation |
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A property expert has admitted that the recent rate of increase in the level of mortgage lending has been greater than he anticipated.
Ray Boulger, the senior technical manager at mortgage brokerage John Charcol, admitted surprise at news from the Council of Mortgage Lenders (CML) that June's lending was 23 per cent up on May.
He stated: "We have seen a steady improvement for most of this year, but that's a bigger increase than I was expecting."
Mr Boulger said this and a 13 per cent rise in remortgages were "pleasantly surprising" figures.
Those considering the present time a good one to buy a house may wish to speak to a property lawyer about the matter.
According to the CML figures, the increase saw the number of mortgages being issued for house purchases rising from 36,500 to 45,000.
The figure remained six per cent lower than the total in June 2008.
Written by Anna Norton
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