Gross mortgage lending in the United Kingdom increased notably in March, data from the Council of Mortgage Lenders, or CML, showed Thursday.
Total mortgage lending grew 21.0 percent in March from the previous month to EUR 16.5 billion. On an annual basis, lending increased by 7.0 percent.
In the first quarter of this year, gross mortgage lending fell 3.0 percent from the same period last year and dipped 12.0 percent from the previous three months.
“The underlying lending picture is stabilizing,” CML Chief Economist Bob Pannell said.
“Sentiment and activity are showing early signs of improvement, and should be further supported by the effects of stamp duty reform.”
The CML expects lending to strengthen over the next few months, albeit from a relatively sluggish start in 2015, he said.
The material has been provided by InstaForex Company – www.instaforex.com