Gross mortgage lending up 14% year-on-year in February
Gross mortgage lending in February was almost identical to the previous month, but increased significantly year-on-year, according to the Council of Mortgage Lenders (CML).
Lending in February was an estimated £10.7bn and remained relatively unchanged on January's £10.65bn. This is 14% higher than February last year.
Bob Pannell, chief economist at the CML, says that while a seasonal decline is expected over the winter months, February was the seventh consecutive month to see a year-on-year rise in lending.
March 23, 2012
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