CML

The housing market continued to be subdued in July, as demand for mortgages failed to match seasonal expectations, according to the CML.

The five largest lenders in the UK accounted for 82% of all mortgage lending activity in 2009, according to the CML.

Average UK property prices were 6.1% higher this July than last and currently stand at £200,913.

Gross mortgage lending jumped 5% in July to an estimated £13.6bn, from £12.9bn in June.

The Council of Mortgage Lenders (CML) has revised down its forecast on the numbers of borrowers who will fall behind with mortgage payments or lose their homes.

Fixed rate mortgage saw their popularity reach a year high in June attracting 48% of new borrowers, according to CML data.

The Council of Mortgage Lenders says the Mortgage Market Review proposals are a "tangible and significant risk" to the UK mortgage market, with a smaller, more risk averse industry likely.

Gross mortgage lending rose 15% last month, but experts attribute the increase to "seasonal pick-up".

The Government will continue its Mortgage Rescue Scheme to stave off rising repossession numbers, but has announced plans to cut its funding as it searches for ways to ensure it delivers better value for money.

FSA proposals designed to make mortgage borrowing safer for consumers may in fact make it more difficult for people to get on the property ladder, the Council of Mortgage Lenders (CML) says.