Overall the latest CML figures show signs of improvement within the local mortgage market. However, the recovery still has a long way to go within certain segments of the market.
So far, 2015 has been a good year for the household finances. An increasing number of households are receiving pay rises and are enjoying a record low in consumer price inflation, particularly falling food and energy prices.
Furthermore, UK mortgage interest rates hit a record low in June. However, despite this favourable backdrop, it is perhaps somewhat surprising that this has not had a more positive impact on consumer spending.