Mortgage Lending Down 60% on April Last Year
May 21st, 2009 by 
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Gross mortgage lending in the UK fell to around £10.4bn last month, a drop of 60% from the same time in April 2008.
The figures from the Council of Mortgage Lenders shows that the lending figure is down 9% from £11.4bn in March and down 60% from £26.1bn in April last year.Lending for March and April taken together is down 57% on last year.
Michael Coogan, director-general of the CML, says: “It’s still too early to spot a clear pattern of recovery in the housing market as some commentators have suggested.
“Activity remains weak, and we have said we will see volatility in monthly lending figures as we bounce along at the bottom of the market.
“Our forecast for gross lending of £145bn in 2009 remains unchanged.”
Posted in Mortgage news | 