Wednesday 7 April 2010

MORTGAGE LENDING LEVELS GROW

Mortgage lending edged higher in February, figures showed.
Around £9.2 billion was advanced to borrowers during the month, six per cent more than in January, when lending levels were hit by the end of the Government's stamp duty holiday, according to the Council of Mortgage Lenders.
The group said it is "unusual" for advances to rise during February, although it added that it is unsurprising this year as the December and January figures were distorted by the change to the stamp duty threshold.
The CML said the figures are in line with its forecast that lenders would advance a total of £150 billion during the whole of 2010.

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