January lending stale after December rush

But lending for January, while typically dropping back at the start of the New Year was still nearly a third higher than the £17.4bn recorded in January 2005. The CML says lending remained relatively high last month because house-buying has remained robust reflecting consumer confidence in the market and because of expectations interest rates will remain stable. Michael Coogan, director general of the CML, says consumers are feeling more certain about the future of the housing market and confident that house prices are unlikely to fall. He adds: "The interest rate outlook for the near fu...