Thursday, February 19, 2009
Lending even lower than in December
Mortgage lending in January slumped to less than half the level it had been a year earlier, figures showed today. A total of £12.4 billion was advanced by the major mortgage lenders during the month, 8 per cent less than in December and 52 per cent lower than in January 2008, according to the Council of Mortgage Lenders. The group said there was typically a slight decline in lending levels between December and January, although it added that the figure was the lowest monthly level recorded since April 2001.