April Lending Down 60% Year on Year - Council of Mortgage Lenders

Mortgage lending fell again in April after a rise in March, figures from the Council of Mortgage Lenders (CML) have revealed.

The CML dismissed suggestions that the housing market may be about to pick up, with dire figures compared to 2008; "It's still too early to spot a clear pattern of recovery in the housing market as some commentators have suggested," said the CML's Director General, Michael Coogan.

The total amount lent was some £10.4bn, a drop from £11.4bn in March, and some 60% down on April 2008.

Informed Landlords has been reporting from other sources on various indicators to the housing market and what is clear is that things are not clear!  We believe that there will be many signs of ghreen shoots and many set backs before a true recovery is seen.