CML predict modest lending growth

Bob Pannell, the chief economist for the Council of Mortgage Lending predicts that mortgage lending will rise from £10billion to £15bn in 2014, then increase again to £20bn during 2015.

He commented "While this would mark a climb out of the sub-£10bn doldrums, where the market has languished since the credit crunch, it does nevertheless represent a rather muted position,"

He went on to say "We think there are good grounds to be optimistic that the vast majority of households will cope with a slow but certain transition to more normal interest rates. This seems to be the game-plan which the Bank of England has in mind."

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