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Slow growth for mortgage lending

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According to an article published by Warren Lewis of propertyreporter.co.uk, any growth in the UK 2013 mainstream mortgage will be eclipsed by growth in lending from alternative sources of finance.

A survey of 400 mortgage brokers forecasts the bridging industry will grow by 36% over the next year. This is four times faster than the mainstream mortgage market.

A press release in December by the Council for Mortgage Lenders (CLC) predicts that banks and building societies would lend an extra £12 billion in 2013, 8.3% up on 2012.

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This is not legal advice; it is intended to provide information of general interest about current legal issues.