The number of sold properties has been the highest since 2007 even though today the mortgage lending is a serious slump. Consider that in 2007 the banks were lending £350 bn a year to pump into the market. But over the last few years lending has fallen off a cliff. In 2012 the banks were landing around 150 bn, less than half, so where’s all the money coming from to make the dream come true?
- Mortgage lending booms as interest rates hit record low (theguardian.com)
- Warning of London housing bubble as mortages soar by 29% (standard.co.uk)