Gross lending £11.7 billion in December, says CML
Gross mortgage lending in December reached an estimated £11.7 billion, according to the Council of Mortgage Lenders. This brings the estimated total for the year to £143 billion, up from £141 billion in 2011. In 2013, the CML forecasts gross lending will reach £156 billion.
Commenting on market conditions in this month's CML Market Commentary, CML chief economist Bob Pannell said: "We are more positive about the UK housing market and wider economy than a year ago, despite economic headwinds and downside risks.
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"A key reason is that lenders currently face few funding pressures, in part reflecting the funding for lending scheme.
"House purchase activity was robust in the fourth quarter, on the back of better mortgage availability and pricing, and we expect this to continue over the coming months."