CML reports a fall in lending in November!

Date Posted December 21, 2010  |  Author Author Alec Hanson

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The Council of Mortgage Lenders has reported a fall of 5% against lending in October. This puts lending in November at an estimated £11.1 billion, which is also 10% lower that the £12.3 bn advanced a year ago.

This also represents the 5th consecutive month where grow mortgage lending has been at it’s weakest since the equivalent month in 2000.

Bob Pannell, CML chief economist, commented:

“The fall in gross mortgage lending in November reflects the usual seasonal slowing of activity at this time of year, and reinforces the picture of a continuing flat market.”

For more information visit:
http://www.bbc.co.uk/news/business-12038480

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Alec Hanson


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  • http://sellmypad.co.uk Les Sheppard

    If this lending drought continues we'll all struggle to grow our asset base in 2011. I wonder how many ordinary investors are considering lease options or other creative solutions to optimise their efforts? I've grown to accept that they're a useful tool to take control of more props without needing a bank. Anyone else have a view?
    My recent post UK Property Values Falling Through Next Year