Home loans on the rise in February

21 April 2009

The latest lending figures from the Council of Mortgage Lenders (CML) have shown a slight rise in February, possibly suggesting that the beginnings of a recovery may be taking place.

The CML stated that activity in the home loans market was still historically at a low level, but that there are some positive signs "for later in the year".

CML director general Michael Coogan said: "Some large banks are making more funding available through enhanced lending commitments, which is helpful but will not satisfy consumer borrowing demand on its own."

Lending figures for loans, mortgages and other forms of credit have been hit hard over the past year and a half, as lenders react to uncertainty in the economy.

The Bank of England has introduced several measures to increase lending in recent months, including lowering its base rate and creating new money through `quantitative easing`. It is too early to say for sure whether any of these have worked, but the CML`s figures cast light on one of several areas in which lending appears to be improving.

---

Think Money work with a panel of lenders to offer a range of loans. If you are thinking about getting a loan, contact one of our expert loan advisers today.

Tags: loan, loans, home loans, mortgage, mortgages, Council of Mortgage Lenders, The Bank of England, increase lending, base rate

Fees payable when continuing service is provided. Repaying debt over a longer period may increase the total amount to be repaid. Calls are recorded and are usually free from UK landlines. Mobile phone users may be charged and should check with their service provider.