Gross mortgage lending up 1 percent in May - CML

Published 20th Jun 2011

Gross mortgage lending in Britain rose 1 percent on the year in May and was 12 percent higher on the month, the Council of Mortgage Lenders said on Monday.

The CML said gross mortgage lending totalled 11.3 billion pounds in May.

"Gross mortgage lending in May recovered after low activity levels in April. Distorting effects from Easter and bank holidays cloud the current picture, but the likelihood seems to be for essentially flat levels of lending over the next couple of months," said CML Director General Michael Coogan.

Source: ' 'Reuters' '

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