CML figures show increase in mortgage lending

Residential landlords who are considering increasing the size of their portfolios could be among those to be encouraged by new mortgage lending figures.

According to the latest report from the Council for Mortgage Lenders (CML), lending in February increased by six per cent on the previous month.

The report revealed that £9.2 billion of mortgage deals were approved last month, compared to £8.7 billion in January.

Commenting on the figures, CML economist Paul Samter said: "As we look forward, we expect emerging signs of improvement as confidence in the economy grows and we move past the election."

However, the expert warned that the post-election market could provide new challenges for the housing market.

"The need for the authorities to address fiscal deficit will inevitably slow the economy. At the same time the funding markets, while certainly better than a year ago, remain difficult and will limit the flow of available housing finance."

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