For the month of June, figures from the Council of Mortgage Lenders (CML) showed there was a slight uplift in the lending figures.  However, it seems that buy to let lending is rising at a slower rate, which is as to be expected at the moment.

In the first quarter of this year, there were around 22,400 buy to let mortgages approved, much less than the 38,000 mortgages in the same period of last year.

As reported on residentiallandlord.co.uk:

CML economist, Paul Samter said: “The pick-up in June’s lending largely reflects seasonal factors, and these may well support lending volumes at moderately higher levels over the rest of the summer.  But the combined effects of the restricted nature of mortgage funding, reduced number of active lenders, weak labour market and limited consumer demand are likely to hold back any significant and underlying improvement. Our forecast for gross mortgage lending of £145 billion this year is unchanged.”

Commenting on the latest CML figures, Dominic Agace, Managing Director of Winkworth says: “This reflects what we are seeing in our offices, with an ongoing improvement in the property market over the course of 2009.

“In 2008, the usual summer upsurge in activity was overridden by the ongoing decline in the property market and restriction in finance availability. Therefore, the return of seasonal factors is, in itself, an indication of a marked improvement in the property market.  We are still in a marketplace constrained by finance availability, but these figures can only be seen as the backdrop to an improving picture of the property market in 2009.”

This ongoing improvement is good news for those in the mortgages market and those taking CeMAP training, as more and more mortgage related jobs are being seen advertised once again.

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