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UK News: Secured Homeowner Loans, Personal Loans, Mortgages and Remortgages
Mortgage lending edges down in May
Gross mortgage lending totalled an estimated £25.5 billion in May, down only 2% from £26.1 billion in April but 19% from the £31.5 billion high in May 2007, according to the CML.
Monthly lending levels have continued well below their position last year but at good historic levels. The Bank of England’s approvals figures show that this pattern will continue in coming months, and that lending activity has strongly focused on the remortgage market. But a wide range of banks and building societies continue to offer a range of mortgages in the market place, despite the credit crunch and funding constraints.
