Sunday 20 February 2011

The Press Association: Mortgage market on the back foot

The Press Association: Mortgage market on the back foot

The mortgage market started the year on the back foot with lending diving by 13% in January, figures show.

A total of £9.2 billion was advanced during the month, down from £10.6 billion in December and the lowest level since February last year, according to the Council of Mortgage Lenders (CML).

The fall is likely to have been partly caused by the severe winter weather during December, which prevented potential buyers from going out house hunting.

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