UK mortgage market shows signs of a slowdown - CML

Latest findings by the CML suggest overall mortgage lending was £1bn lower in May than in April. Michael Coogan, CML director general, says: “This survey and other recent date suggest that the housing market may well have begun to slow down.” “Reduced affordability, exacerbated by the cumulative effect of rising interest rates, is acting as a natural brake. But the under-supply of property, and the continued aspirations of most people to own their homes, makes it likely that house price increases will slow down rather than stop, “ he says. He concludes: “Recent speculation about th...