|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
23rd of October 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
October 20, 2010    

September gross mortgage lending slumps to 10-year low

Bookmark and Share

by Kay Murchie
September gross mortgage lending slumps to 10-year low

The Council of Mortgage Lenders (CML) has today revealed gross mortgage lending totalled £12 billion in September - the lowest September total since the year 2000.

According to the CML, gross mortgage lending fell 1% on the month and was 7% lower than in September 2009.

The latest figures highlight the ongoing sluggishness of the UK housing market.

Brian Murphy of mortgage brokers, the Mortgage Advice Bureau, described the September figures as “a shocker”.

Economists expect housing market activity to remain subdued over the coming months.

House prices are also expected to fall gradually over the next three months and lose around 10% in value by the end of next year, according to Howard Archer at IHS Global Insight.

In related news, HM Revenue & Customs (HMRC) recently revealed a fall in the number of homes sold in August in the UK.

According to HMRC, 85,000 homes worth at least £40,000 or more were sold in the month - the first significant fall this year.

Discuss this in the Finance Markets forums

Story link: September gross mortgage lending slumps to 10-year low





Need a loan? Apply for one now!
Personal loan application
  • Over 100 lenders
  • Instant decision
  • No obligation quote
  • Safe, easy, and simple
  • Your data is protected


Related financial stories to: September gross mortgage lending slumps to 10-year low:
Previous: «
Next: »

Visited 392 times, 3 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , , , , , ,

 


Mortgage News feed Mortgage News

All Financial News feed All Financial News