Mortgage Lending in Scotland Falls
November 29, 2008 by Brendan O'Neill
News
Scotland
Those looking for CeMAP training in Scotland might be disappointed at first by the latest figures from the Council of Mortgage Lenders (CML).
Although the figures show that mortgage lending in Scotland fell by 18 percent in the third quarter of this year, the number of mortgages approved there still accounted for 12 percent of the total UK lending, which makes being a mortgage advisor in Scotland one of the best places to be a mortgage advisor at the moment.
The statistics also show some other interesting news, such as the average deposit on those home loans was 16 percent.
CML policy consultant Kennedy Foster said: “The year-on-year decline in house purchase lending has been less pronounced in Scotland. As the Crosby report recognised earlier this week, intervention is needed to restore the availability of mortgages and we hope to see its recommendations implemented swiftly. This would help address the mortgage supply issues, but consumer demand for loans will continue to fall away in the weaker economic outlook.”
Written by
Brendan O'Neill
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