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Mortgage lending subdued in July states CML Press release

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The Council of Mortgage Lenders today issued a press release stating that Mortgage lending was subdued in July 08.

Although lending was up 5% compared with June, it was down 27% compared to July a year ago, according to the Council of Mortgage Lenders.

Bob Pannell, CML head of research, said:

“While there was a small month-on-month increase in activity, it represented a notable decline from a year ago. This continues the weaker picture seen in June and points towards the more subdued levels of lending we are likely to see in the second half of 2008.”

To see the original release click here.

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