Slowing house market quiets lending

The monthly CML survey, posted a 4% drop in gross lending last month, while at £25.4bn, gross lending has seen its first year-on-year drop since October 2000, by 2%. Lending for house purchases was down £1.6bn from August, at £11.2bn. About 44% of total lending was for house purchases, down from 47% recorded a year ago, the CML says. Total lending figures continued to climb to a record £80.8bn for the whole third quarter, the CML adds. Mortgage loans totalling £38.6bn through the quarter were unchanged on the previous three-month period. Both sets of quarterly figures were buoyed...