Mortgage lending surges 14% in December - CML

Gross mortgage lending reached an estimated £13.7bn last month which is a rise of 14% from November's figure of £12.1bn and up 3% on December 2008. Lending totalled £39.1bn in the fourth quarter, up marginally from £39bn in Q3, but down 14% on the last three months of 2008. The figures represent the first time the annual monthly comparison has been in positive territory since October 2007. However, apart from 2008, it is still the lowest figure for December since 2001. With a typical 6% fall between the third and fourth quarter, the month's figures defy seasonal trends. "The Dec...