Alliance and Leicester comments on today's CML lending figures

Edited by the Insidemoneytalk editorial team Sep 24, 2007

Stephen Leonard, Director of Mortgages at Alliance and Leicester, said:

"Today's CML mortgage lending figures show a 6 per cent fall in lending for August, compared with July".

"We generally expected to see a slowdown in August and there is some seasonality in these figures, especially with many people still away on holiday".

"This also reflects the strong lending figures in May, June and July when due to increasing rates and the advent of HIPs many borrowers brought forward their purchase decisions.".