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UK mortgage market revival falls away

Posted on 19 August 2011

A mini revival in the mortgage market fell away during July amid a “subdued” property market, the UK’s major lenders said. Gross lending was an estimated £12.6 billion in the month, 1% lower than in June and 6% down on a year ago, the Council of Mortgage Lenders (CML) said.

Lending in June picked up to its highest level for nearly a year as landlord activity in the buy-to-let market picked up. But July saw lending fall back and the underlying picture of the housing market now “looks stable at best”, the CML said……………………………………….Full Article: Source

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