Gross mortgage lending declines in January
This is 9% lower than December’s gross lending figure of £11.4bn and a 3% fall from £10.7bn in January 2012.
Caroline Purdey, CML market and data analyst, said: “Housing sentiment remains positive, despite ongoing economic pressures.
“A worsening in the outlook for inflation presents a greater headwind but we still expect the funding for lending scheme to lift activity over coming months.
“House purchase activity was robust into the start of 2013 on the back of better mortgage availability and pricing and we share the Bank of England’s confidence that this will continue over the coming months.”