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BBC News - Mortgage lending leap fuels housing market debate

Aaron Strutt Image

UK mortgage lending in April was 36% higher than a year ago, a lenders' group says, as a major bank moves to cool the housing market in London.

Gross lending was up 8% compared with March to an estimated total of £16.6bn, according to the Council of Mortgage Lenders (CML).

Aaron Strutt, of Trinity Financial mortgage brokers, told the BBC: "Lloyds is such a huge lender that there will be a void to fill, particularly as they have been keen to offer bigger mortgages for quite some time. Some of the other banks will see this as an opportunity to lend more money."

He said many lenders were offering mortgages over £500,000 and, providing the borrower met affordability criteria, they would offer up to five times income.

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