October’s gross mortgage lending was an estimated £13.5 billion, a 5% rise from £12.9 billion in September but down 27% on £18.5 billion in October 2008, according to the Council of Mortgage Lenders (CML). This is typical seasonal activity between September and October. The average monthly rise over the last decade has been 5%.
The October figures are in line with the CML’s forecast for gross lending of around £141 billion for 2009 as a whole.
20th November 2009