Advisers expect lending rise in 2013
Sophie Hall, head of intermediary at Avelo, said: “It is really positive news to see that intermediaries believe mortgage lending is set to rise in 2013.
“With a housing shortage, strong rental demand and desperately poor returns on other forms of investment, the buy-to-let market has shown it is bouncing back; this should have a knock on effect on the mortgage industry as a whole and hopefully get the economy moving in the right direction.”
“Most indices are now suggesting a small rise in house prices in 2013, so it makes sense that gross lending increases in line with this.”
Latest Financial Services Authority data has revealed gross mortgage lending hit £152bn in 2012 with the Council of Mortgage Lenders forecasting this to rise to £156bn in 2013.