Lending falls in 'subdued' market

0

The number of mortgages advanced to people buying a property dropped for the fifth consecutive month during December

The number of mortgages advanced to people buying a property dropped for the fifth consecutive month during December as activity in the housing market remained subdued.

Just 39,900 loans were advanced for house purchase during the month, 4% fewer than in November and the lowest level since February last year, according to the Council of Mortgage Lenders.

The figure was also 37% lower than it was in December 2009, when lending levels were boosted by people rushing through purchases to beat the end of the Government’s stamp duty holiday.

This site uses Akismet to reduce spam. Learn how your comment data is processed.