The CML said that government schemes had helped to boost the market
UK mortgage lending surged to its highest monthly level since October 2008 in May, with activity even surprising lenders.
Figures from the Council of Mortgage Lenders (CML) recorded gross mortgage lending of £14.7bn in May.
This was up 21% on the previous month and 17% higher than in May last year, assisted by government schemes to boost the market.
The data comes shortly after building societies warned of a price "bubble".
Bob Pannell, chief economist at the CML, said that the wet weather may have delayed the usual spring bounce in housing market activity, when buyers head out to view homes.
"Our forward estimate does imply somewhat stronger house purchase activity than we had been expecting. This may reflect a degree of pent up sales following the extended spell of poor weather earlier this year," he said.
Source: BBC News - Business http://www.bbc.co.uk/news/business-22984982#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
_Free_Online.gif)
