Rise in mortgage lending in May
New statistics show that mortgage lending is on the up, which could please Brits who have invested in a conservatory or other home improvement to increase the appeal of their property.
According to the Council of Mortgage Lenders (CML) data, lending rose by seven per cent to £11.3 billion last month.
This represents a ten per cent rise in comparison to May 2009 figures, but the organisation pointed out that the market still remains subdued.
Despite the increase, turnover is below the level seen towards the end of last year and the CML now believes that gross lending might slightly undershoot its forecast of £150 billion for 2010.
CML economist Paul Samter said that next week's Budget announcement will see a drive to get the UK's finances on a firmer track, but that he did not expect there to be any housing or mortgage-specific direct tax measures.
"The market will inevitably be affected by how policy impacts on the wider economy - particularly on household finances and confidence," he added.
Meanwhile, those who have improved their home with a lean-to conservatory, garden studio or other structure may be interested in the new range of storage ideas from Store.
Posted by Ashley Ault
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