MORTGAGE LENDING hit a record high in November as the housing market ended the year showing few signs of a slowdown.
The Council of Mortgage Lenders said the £33.1 billion total for the month was 19% higher than in November 2005 and 9% higher than the previous month. CML director-general Michael Coogan said:
‘The housing market is undoubtedly in robust shape as we move towards the New Year. Not only is today’s lending figure the highest ever, our recently published forecasts suggests lending will beat our previous predictions for the coming two years.’