Mortgage borrowing to top £1trn next month

In its latest report Housing Finance: a trillion pound success story, the CML says despite growing rapidly in recent years, borrowing has been dwarfed by the amount of unmortgaged property wealth held by UK home-owners, which currently stands at £3.6trn. But it says mortgage lending has helped fund a dramatic expansion of home-ownership, from 60% to 70% of the population during the last 20 years. The sharp increase in mortgage lending in recent years is a reflection of a number of factors according to the report, including government policy, the strength of the wider economy, favourabl...