Thursday, February 18, 2010
Even the tiniest set back will upset the apple cart
Mortgage lending in the UK dropped sharply in January owing to a hangover from the rush to buy homes before the stamp duty holiday ended, lenders say. Gross lending for home loans fell by 32% compared with December to Â£9.1bn, the Council of Mortgage Lenders said. It suggested the decline was due in part to the threshold for paying stamp duty rising at the start of 2010. However, the figure was 21% lower than January 2009 and the lowest monthly total since February 2000.