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Council of Mortgage Lenders (CML) says mortgage lending fell 5% in November compared with the previous month and was down 10% on a year ago.
Gross mortgage lending stood at an estimated £11.1bn in November, the lowest figure since April according to the CML. It was also the lowest total in the month of November for a decade, and is the fifth consecutive month where gross mortgage lending has been at its weakest since the equivalent month in 2000.
The CML recently published its predictions for the mortgage market in 2011. It predicts that there will be 40,000 homes repossessed in 2011, up from an estimated 36,000 this year.
For more information visit the CML website.
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Gross mortgage lending stood at an estimated £11.1bn in November, the lowest figure since April according to the CML. It was also the lowest total in the month of November for a decade, and is the fifth consecutive month where gross mortgage lending has been at its weakest since the equivalent month in 2000.
The CML recently published its predictions for the mortgage market in 2011. It predicts that there will be 40,000 homes repossessed in 2011, up from an estimated 36,000 this year.
For more information visit the CML website.
More...
