records revealed on buy-to-let mortgage lending
The complete total mortgage lending
in the United Kingdom hit record levels on February, the sums
showed the greatest February on record despite a little decline
on regular maximums.
CML the Council of Mortgage Lenders
put forward new data indicating that 24.6 billion pounds of mortgage
lending was generated during February; this is a staggering nine
per cent more than last year 2006 February period.
It shows the positive side of the mortgage
market and gives people a general idea of how good the market
is taking off, this leading more people to invest in the property
market. January was a better month than February via mortgage
lending this was thought to be the conclusion due to interest
Michael Coogan , CML director feels
that a great February is indicative of onward movement in people
buying more houses.
"This is the highest February
lending figure on record, and reflects the continuing strength
of the market and the strong desire of many people to get a foot
on the property ladder or move house," he commented.
The total gross mortgage lending
may hit a high target of 163.360 billion during 2007 period.
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