Unoccupied property insurance clients may think that the recent rise in mortgage lending means that the house buying market has finally started to build up a head of steam. The Council of Mortgage Lenders reports that gross mortgage lending was £13.4bn in August 2011- a 6% rise from the July figure and 10% up on August 2010. This is the highest monthly total since July 2009 when it hit £14bn.

However, before the owners of empty houses get too excited it is worth studying the words of the CML Chief Economist Bob Pannel who commented: “Much of the recent variation in monthly lending figures appears to have reflected seasonal factors, with the underlying picture being one of activity levels that continue to be subdued but broadly stable.” In other words, do not expect a sudden rush of potential buyers with mortgage offers in their hands.

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