NAEA: Response to CML gross lending figures

Commenting on Council of Mortgage Lenders gross lending figures for August, NAEA President Gary Smith said:

“The reduction in overall mortgage lending in the month of August comes as no surprise as it does follow the seasonal trend where the housing market is understandably quieter during the main holiday month. What is interesting is that the CML statement suggests that lending on house purchase as opposed to remortgages has actually increased which is something the NAEA’s own figures echo.

“If you look at the number of people looking for houses, the number of houses available and the number of sales agents are making it becomes clear that there has been a marked improvement in the housing market over that time.”

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