The Council of Mortgage Lenders posted housing figures for the month of May recently which towered over the month of April.  Gross mortgage lending increased by more than 10%, up 1.2 billion pounds over the previous month.  The month’s lending was also 1% higher than May of 2010.  The vast increase over the month of April is being blamed on the amount of distracting events which took place, namely the royal wedding and bank holidays.

The CML is saying the increase was also boosted by a large number of remortgages which took place.  Additionally they believe the number of remortgages will likely fall off as time goes forward, due to the estimation of a rate increase diminishing.

Jonathan Moore, director of EasyRoommate, commented on remortgages leading the way during the month, saying: "Lending may have been up in May, but this is being driven by remortgaging activity rather than a sudden surge in the number of first-time buyers able to get a mortgage. For the vast majority of wannabe buyers, securing a mortgage remains the main hurdle to clear – and this shows no sign of getting easier any time soon.

"Lending to those who need the most help to purchase their first home is still woefully inadequate, and it's no wonder that rents are being driven to all-time highs by the hundreds of thousands of frustrated buyers competing for rental accommodation."

Lenders continue to feel more heat as the government insist on lending facilities loosening the reigns of criteria.  First time buyers need to be given the opportunity of stepping onto the property ladder and lenders are the ones to make that possible.