Mortgage lending up slightly in November, CML says

by Aaron Strutt

Jan 20 2012

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