At £12.4bn monthly lending was down 9% on October 2009

Mortgage lending has fallen to its lowest October figure for ten years, according to new data from the Council of Mortgage Lenders.

Gross mortgage lending was £12.4bn last month, down  9% on the figure for October 2009.

CML said the fall was due in part to the sharp rise in lending in late 2009 when borrowers rushed to take advantage of stamp duty concessions.

 

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