CML

The mortgage market is experiencing "strong upwards momentum" and gross lending may top £200bn for the first time in seven years in 2015, but there is little evidence of a housing boom developing, according to the Council of Mortgage Lenders (CML).

The government is undermining its own Help to Buy scheme by imposing a large tax burden on first-time buyers, the Council of Mortgage Lenders (CML) has argued.

Banks and building societies stepped up lending by 29% year-on-year to advance £16.6bn in July, Council of Mortgage Lender figures have revealed.

Mortgage lending hit a five-year high in May providing yet further evidence of the resurgence of the property market.

The Council of Mortgage Lenders (CML) said it is important for borrowers to know the difference between the types of mortgage fees after BBC Watchdog examined lenders "squeezing" homebuyers with large arrangement charges.

Deputy governor for Monetary Policy at the Bank of England Charlie Bean has said lower inflation next year should both support the mortgage market and consumer spending.

The number and value of remortgages taken out in August increased by more than 30% on the same period of last year, as the market showed "welcome signs of life", according to the CML.

Gross mortgage lending reached an estimated £13.4bn in August, a 10% rise from £12.1bn in August 2010, according to the Council of Mortgage Lenders (CML).

A near-£2bn increase in mortgage lending last month may be no more than a "flash in the pan" reflecting concerted efforts from lenders to meet their mid-year targets, according to chartered surveyor e.surv.

Britain faces a wave of home repossessions when interest rates begin to rise again, one of the country's leading bankers has warned.