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Mortgage lending picked up towards the end of last year, according to the latest lending figures.

The Council of Mortgage Lenders said that the number of loans made to home-buyers rose by 4% in November, to 47,000.

The CML’s director general Paul Smee, said: “A rise in mortgage lending towards the end of 2011 is a welcome indicator for the industry considering confidence has been weak due to fragile economies both at home and in the eurozone.

“We should expect a further increase in first-time buyer activity over the next few months as they push through their purchases to take advantage of the stamp duty concession before it ends in March.”

20 January 2012

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