Christopher Down, Chief Executive, Hearthstone Investments said,
“The increase in mortgage lending reported by CML is a very encouraging sign – not only for potential homeowners – but also for the wider UK residential property sector as a whole. It is certainly apparent that an air of confidence has returned to the market and lenders have begun to loosen their grip on stringent lending criteria.
“The figures are a clear reflection – despite some of the hyperbole to the contrary – that UK housing is still within reach and residential property continues to be a favourable investment. However the increasing consumer demand and lending must also be satisfied with an increased supply if we are to avoid the much discussed ‘bubble’, and this is something that must come from the Government down”.