The Conveyancing Department at Thomas Dunton report that figures from the Council of Mortgage Lenders (CML) have revealed that mortgage lending last month surged to its highest level since October 2008. The CML recorded gross mortgage lending of £14.7bn in May, up 21% on the previous month and 17% higher than May 2012.

The boom in activity has been attributed to the Government’s Funding for Lending scheme, which has helped banks and other lenders to offer cheaper loans, and the Help to Buy scheme, which provides lenders with a guarantee of up to 20% of the price of the property.

 

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