Mortgage lending totaling almost £30bn for the first three months of 2010 represents the lowest quarterly figure since 2000, Council of Mortgage Lenders figures show.
Gross lending for the first quarter of 2010 was an estimated £29.5bn, a 24% decline from Q4 last year and a 9% decline from £32.4bn in the first three months of 2009. The CML says this is the lowest quarterly lending total since the first three months of 2000, but is very much in line with its forecast of a gross lending total of £150bn this year. Gross lending was an estimated £11.5bn in March, a 24% rise from £9.3bn in February and a 3% rise from £11.2bn in March 2009. CML economist Paul Samter says: "Overall, housing and mortgage activity remains subdued, but is comfortably h...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.