Long-term mortgage problems 'remain'
The UK mortgage market has hardly changed despite a 24 per cent increase in lending activity, according to a property expert.
Figures published by the Council of Mortgage Lenders (CML) revealed that lending activity was estimated to be £11.5 billion during March, up from £9.3 billion in February.
However, according to CML chief economist Paul Samter, overall housing and mortgage activity remained "subdued" and long-term problems still face the market.
Mr Samter said these problems "will limit the speed of the recovery in the housing market and the wider economy".
This follows another recent survey which suggested four-fifths of people expected an increase in house prices to happen in the coming months, despite some observers suggesting a brief positive period for the housing market in Britain.
Such negative analysis of the mortgage market and the resulting impact on first-time buyers may attract more people to look for property to rent in the London borough of Merton, or elsewhere in the UK, instead.
By Charles Mackay
Published 21st April, 2010
© 2010 Estates IT Limited
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More people may consider looking for property to rent in the London borough of Merton, or elsewhere in the UK, after a leading property expert suggested that mortgage lending and activity remains "subdued"