23
Jun
'Cautious optimism' remains about mortgage market
Experts are remaining cautiously optimistic about the UK mortgage
market, according to individual financial adviser firm
Bestinvest.
Head of mortgages at the group Peter O'Donovan predicted that
lending may start to increase at a faster rate in the coming
months.
The comments come after the Council of Mortgage Lenders (CML)
published figures suggesting that gross mortgage lending totalled
around £10.3 billion in May.
This figure represented a two per cent decline on the previous
month, but Mr O'Donovan remained hopeful of more positive news in
the CML's forthcoming surveys.
Explaining his views on the research, the head of mortgages said:
"I don't think it shows a dampener, because there's only a two per
cent change in the monthly figures."
He also claimed that many experts showed cautious optimism "earlier
on", before adding that "there's a similar amount to what was lent
last month".
