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Mortgage lending down in April

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  • Mortgage lending down in April

    Mortgage lending was down in April compared to March, but still remains higher than this time last year.

    Overall suggestion seems to be that mortgage lending is stable but flat:


    The Council for Mortgage Lending said gross lending last month was £25bn - 12% lower than in March but still 16% higher than a year ago.

    The British Bankers Association said April's net lending - which includes repayments - rose by £5bn.

    However this was lower than both the £5.5bn rise seen in March, and the average of £5.1bn lent during the past six months.

    "The level of new mortgage approvals has stabilised in recent months, and we do not expect the underlying level of lending to rise from recent levels," said Council for Mortgage Lending director general Michael Coogan.