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Mortgage lending rises 24%
Mortgage lending increased to £11.5bn in March, a rise of 24% from February, according to data released by the Council of Mortgage Lenders (CML).
However, total mortgage lending in the first three months of the year is still substantially lower than in the last quarter of 2009.
"Despite the increase in activity late last year and a subsequent fall early this year - due to the end of the stamp duty holiday - the underlying position looks to have barely changed," said CML economist Paul Samter.
"But with the gradually improving economic backdrop and interest rates still low, we continue to expect a gentle improvement in market conditions later in the year."
Post Date: April 19th, 2010
However, total mortgage lending in the first three months of the year is still substantially lower than in the last quarter of 2009.
"Despite the increase in activity late last year and a subsequent fall early this year - due to the end of the stamp duty holiday - the underlying position looks to have barely changed," said CML economist Paul Samter.
"But with the gradually improving economic backdrop and interest rates still low, we continue to expect a gentle improvement in market conditions later in the year."
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Post Date: April 19th, 2010
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