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Increase in Mortgage Lending
Latest Figures show increase in lending mortgage lending
Despite continued fears over the stability of the UK housing market figures released by CML research on behalf of the Bank of England showed that total gross mortgage lending for 2007 reached £362,314 million.
The figure was an increase of £17,195 million on 2006 but the positive figures mask a 2007 forth quarter reduction of £12405 million to £86,066 m from £98,471 m in quarter 3.
Source: CML Research, Bank of England
1. Total gross lending gives the total value of loans secured on dwellings that are newly advanced by institutions in the period. All the figures were sourced from the Bank of England except the estimate for the most current month.
2. The CML estimates of gross lending for the latest month were based on the lending figures provided by a sample of lenders that more than 70% of the mortgage market. The aggregate of these figures were scaled up to represent the whole market.
