Thursday, January 21, 2010
Never as good as it’s spun.
Gross mortgage lending reached an estimated Â£13.7 billion in December, a 14% rise from Â£12.1 billion in November and up 3% on December 2008, according to the Council of Mortgage Lenders. This is the first time the annual monthly comparison has been in positive territory since October 2007. However, other than in 2008, this is still the lowest figure for December since 2001 (Â£13.4 billion). For 2009 as a whole, lending totalled Â£143.7 billion, slightly above our annual forecast of Â£141 billion. However, this is down 43% from Â£253 billion in 2008 and the lowest annual total since 2000 (Â£119.8 billion).