Mortgage lending down again, says CML

New figures from the Council of Mortgage Lenders (CML) have revealed that the level of UK mortgage lending fell in June.

The number of mortgages was down by eight per cent for first-time buyers and by nine per cent for home movers, while the total value of deals dropped by nine per cent for both groups.

At the same time, the required deposit increased, rising from an average of 20 per cent in May to 22 per cent in June.

Such a requirement suggests more people may be finding it hard to get on the housing ladder due to the increased upfront costs.

Using the self build method is one way people could keep the costs down while fulfilling their homeownership ambitions.

The inability to buy homes has led to more people having to rent, insurance firm Axa has stated.

Axa managing director of personal lines intermediary Mike Keating stated: "Our research shows that over a third of people privately renting are doing so because they can't get a mortgage at the moment."