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New year's mortgage lending sets record
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MORTGAGE lending in January soared to its highest level on record,
figures showed yesterday.
Gross mortgage lending totalled GBP 23 billion last month - the
highest figure for January ever recorded, according to data from the
Council of Mortgage Lenders (CML).
The figure was down 14 per cent on December's GBP 26.9bn, but
almost a third higher than the GBP 17.4bn lent in January last year.
Lending typically weakens around the start of a year, as house-
buying activity slows between the autumn and spring.
January's strong figure was attributed to robust consumer ...
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