Mortgage lending up ten per cent on a year ago
2/23/2012
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Gross mortgage lending continued its slow recovery in January with loans 10 per cent higher by value than a year ago, at £9.5bn.
The Council of Mortgage Lenders (CML) said the 14 per cent fall on December 2011 was an expected seasonal decline and pointed out that January was the sixth month in a row of higher year-on-year lending.
Last year was also the first since 2007 to see an increase in gross mortgage lending, with a four per cent rise on 2010 to £140.7bn.
The increase in 2011 was generated by a 17 per cent rise in remortgage lending. House purchase lending actually fell by four per cent.
Source: AboutProperty.co.uk