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Mortgage Lending Up 6% on Last Month but down 6% on Last February

March 19th, 2010 by THE ARTICLES SHOWN ARE FOR INFORMATION ONLY AND DO NOT CONSTITUTE ADVICE OR RECOMMENDATION

Gross mortgage lending in February was up 6% month-on-month at £9.2bn to the lending showed in January.
The CML’s said lending in the first two months was “broadly in line” with its forecast for £150bn of lending in 2010 as a while, though the figure is down 6% on last February and marks the second worst February in the last 10 years.

Mortgage providers Nationwide and Halifax report price falls of 1-1.5%  last month.
Given the short-term weakness and distortions in the housing market, in addition to signs of more properties coming onto the market, it was perhaps unsurprising to see falls in some of the monthly house price indices in February,” he said.
UK lenders, including Lloyds and HSBC, have all made great claims at their results announcements about the amount of financing they are making available this year.

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