Mortgage lending up 6%
- 21st November 2007
- Buying Property News
Figures released by the Council of Mortgage Lenders shows that gross mortgage lending rose nearly 6% in October to £32.4bn compared to £30.6bn in September.
The rise is higher than the expected 3% rise that would usually be expected for this time of year, but the figure reflects transactions from before the property slowdown.
Michael Coogan, director general of CML, says: “The next few months will be a testing time as ongoing pressures in financial markets feed through into the wider economy.”
The next few months will be a testing time as ongoing pressures in financial markets feed through.
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