Gross mortgage lending likely to fall in 2012, says AMI

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The Association of Mortgage Intermediaries is predicting gross lending of between £130bn and £135bn in 2012.

In its latest Quarterly Economic Bulletin it says gross mortgage lending in 2011 is set to match £136.3bn in 2010, but will fall to between £130bn and £135bn in 2012.

The report says “Insufficient equity blocks the market because tighter lending criteria means many borrowers end up without the borrowing capacity to get a mortgage. Someone who bought at 85% loan to value in 2007 would now have only around 5% equity, nothing like enough to remortgage or move up the housing ladder.”

28 October 2011

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