20
Dec
£11.1bn spent on mortgage lending in November, report shows
Mortgage lending for people looking to buy houses for sale in the
UK was £11.1 billion in November 2010.
This is according to research conducted by the Council of Mortgage
Lenders (CML), which reported that this represents a marginal drop
from the £11.6 billion lent out during the previous
month.
CML chief economist Bob Pannell said this could reflect "the usual
seasonal slowing of activity at this time of the year".
He noted that the CML has predicted gross mortgage lending will
remain stable in 2011 and people purchasing properties for sale
could expect mortgage lending to be similar over the coming 12
months.
Mr Pannell estimated that the gross mortgage lending for 2011 will
come in at £135 billion.
Last month, chairman of the group Matthew Wyles predicted that
gross home loan lending is likely to be £137 billion by the
end of the year, when he spoke at the CML's 2010 Mortgage Industry
Conference and Exhibition.