Gross Mortgage Lending up 10% on January 2011

Mortgage Lending up

The Council of Mortgage Lenders today reported that gross mortgage lending up 10% on a year ago, possibly as a reaction to buyers scrambling to complete house purchases prior to the end of the stamp duty holiday in March.

Lending fell by 14% from December 2011, but was 10% higher than January 2011 with an estimated £10.5 billion lent.

The amount lend in mortgages does not now give a complete picture of the housing market, with 40% of sales now being to cash buyers, up from 15% in 2005.

This content was written by Quick Move Now
Published on 20th February 2012
Last updated on 20th April 2017

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