Gross mortgage lending was down 7% year-on-year in September, the Council of Mortgage Lenders (CML) has reported. This is the lowest September total since the £10 billion total in 2000.
It totalled an estimated £12 billion in September, down 1% from £12.1 billion in August and down 7% from September 2009 (£12.9 billion).
Gross lending in the third quarter of 2010 was an estimated £37.4 billion, a 9% increase from the second quarter and down 4% from the third quarter of last year.
CML director general Michael Coogan said: “Lending volumes do not seem likely to increase substantially towards the end of the year. Funding pressures on lenders remain
