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Charms of Chorlton


UK mortgage lending in the first eight months of the year has exceeded annual lending as a whole during the credit crunch.

A total of £138.6bn has been borrowed so far this year, including £20bn in August, latest figures from the Council of Mortgage Lenders (CML) show.

This is higher than mortgage lending for the whole of 2010 (£133.8bn) and the whole of 2011 (£138.3bn).

The CML said lending was "enjoying its best spell since 2008".

Activity has been driven, in part, by homeowners remortgaging to secure a low rate, fearing that the Bank of England will increase interest rates in the coming months.

Mortgage lending in August was 12% higher than in August last year, when new rules were slowing the application process. The total was 8% lower than in July - as is often the case as people head off on summer holidays.

The CML represents banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK.

If you’re selling, make the most of what remains of the good weather to give your home a lift with a few odd jobs and improvements. If you’re a buyer, looking to cosy up in a new nest this Christmas, you need to start viewing now. There’s no time to lose. If you’d like to arrange a viewing, call my office on 0161 882 2233.

'Yesterday is not ours to recover, but tomorrow is ours to win or lose.'

Kind regards,

Eddie Ellis, MNAEA
Director, JP & Brimelow



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