Mortgage Lending remained strong in March, says CML

Gross mortgage lending, paced by high degrees of remortgaging, was still strong in March according to the Council of Mortgage Lenders' monthly statistics. These figures show that gross mortgage lending amounted to a total of £19.3bn in March this year, compared to a total of £16.1bn in March 2002, with remortgaging accounting for half of all lending. However, even though an overall monthly increase in lending could be seen, lending for house purchases was 13% lower compared to last year. This is the first time lending for house purchase has demonstrated a slope compare...