Mortgage Lending Fell in January

The Council of Mortgage Lenders has reported that gross mortgage lending fell 14 % to £10.5 billion in January from the previous month, it was up 10 percent from a year earlier.

A seasonal decline was expected in January. "Should inflationary pressures continue to fall back, the squeeze on household finances should ease progressively and help support stronger economic recovery going into the second half of the year," CML chief economist Bob Pannell said in the statement. "This can only be good news for the housing market further down the track."

UK Mortgage News