Mortgage lending fell by 13% in August, says the Council of Mortgage Lenders.
It warned that there would be no pick-up in lending activity.
Gross mortgage lending totalled £12.6bn in August, 13% lower than in July and 37% lower than last August’s total of £19.9bn.
Nicholas Leeming, director of Propertyfinder, said: “Lenders are still no closer to actually unlocking the vast sums of Government and Bank of England cash they are awash with. Rising mortgage rates from some lenders suggest they are actually trying to choke off demand.”
Sharp fall in lending as banks stay shut
21 September 2009
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Comments
come on pass it on you.... Bankers!!
Looks like the spring/summer rally has bitten the dust.