CML: Highest January lending figures ever

21 February 2006
Gross mortgage lending was at its highest level ever last month, according to new figures.

The value of lending totaled £23 billion in January, which was the highest lending figure on record ever during the first month of the year, research from the Council of Mortgage Lenders (CML) reveals.

Despite being 14 per cent lower than December's figures, the amount is nearly a third more than the £17.4 billion lent last January.

This robust lending figure reflects the more confident sentiment among homebuyers, as well as an expectation that interest rates will remain stable.

"Mortgage lending in all categories has been strong in recent months. This reflects the fact that consumers are feeling more certain about the future of the housing market and confident that house prices are unlikely to fall," said Michael Coogan, director general of the CML.

He added: "The mortgage market looks set for continued steady growth against a backdrop of pretty positive economic conditions."

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