Alliance and Leicester comments on the latest CML lending figures

Stephen Leonard, Director of Mortgages at Alliance and Leicester, says:...

"The CML mortgage lending figures shows record lending of ?32.4bn in June, a nine per cent increase compared with May.

It is a clear indication that borrowers have moved their house purchase decisions forward to April and May in anticipation of the recent rate rises.

The planned introduction of HIPs in July and the increased number of sellers on the market may have further contributed to this early peak in house buying.

"The housing market is still performing at a healthy level but we should expect house price inflation to level off towards the end of 2007.".

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