October mortgage lending unchanged from September

The month-on-month annual comparison is likely to continue to decrease a little in the coming months, because underlying lending volumes rose sharply in the latter part of 2009 as borrowers rushed to take advantage of the stamp duty concession before the end of the year.

CML Chairman Matthew Wyles says the industry is likely to end 2010 having done around £137 billion gross lending, and around £9 billion net lending. The market remains subdued.

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