Modest upturn in mortgage lending

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The level of mortgage lending rose in November last year with gross lending rising to £10.4bn compar...

The level of mortgage lending rose in November last year with gross lending rising to £10.4bn compared with £9.9bn in October, according to the CML and DETR. Mortgage lending climbed slightly from £6.1bn in October to about £6.5bn in November, and the level of remortgaging remained constant at £3.2bn. Peter Williams, deputy director general of the CML, said: "November's figures bears out the CML's view that the housing market has entered a steady period. Modest increases in lending are forecast to be accompanied by house price rises of about 6% in 2001." The average new fixed rates fell...

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