Comment on the Council of Mortgage Lender's (CML) lending figures for September

Published:

20/10/2009

Topic:

Press Release,Money,Mortgages

Hannah-Mercedes Skenfield, mortgages manager at moneysupermarket.com said; "Data from moneysupermarket.com backs up the CML's figures providing fresh evidence that appetite in the housing market is slowly returning.

"Search figures from moneysupermarket.com show confidence in the property market has increased as the proportion of consumers seeking mortgages to purchase a property is at a 2009 high of 45.84 per cent; an increase of 22 per cent since January. 

"At the same time, remortgage searches have fallen by 19 per cent since January 2009, suggesting more and more people are quite happy sitting on their lenders SVR whilst rates remain low. 

"However, figures from September indicate a slight reversal of the trend, with remortgage searches noticeably increasing for the first time this year. This is potentially down to impact of several high profile mortgage launches such as HSBC and Woolwich hitting the headlines with low rates throughout the month, tempting borrowers off their SVR. We are likely to start to see these searches transform into completions in a later CML activity report."

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