Gross mortgage lending up in October
Gross mortgage lending was up an estimated 8% year-on-year in October, according to figures from the Council of Mortgage Lenders.
Mortgage lending hit £19 billion last month. This is 5% higher than September (£18 billion) and 8% higher than in October last year (£17.5 billion). It is also the largest lending total in an October since the £18.6 billion lent back in 2008.
Mohammad Jamei, an economist at the Council of Mortgage Lenders, said: "Nearly all indicators in the housing market align with our view of a gentle easing in market conditions.
“While the housing market has cooled in recent months, mortgage lending continues to be underpinned by positive factors. The positive forecasts for growth, pay and unemployment mean there is potential for market activity to gain traction in the new year."
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
