CML: Mortgage lending down 13% in December

The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in January.

Mortgage lending fell by 13% in January compared with December to £9.2 billion – the lowest level for a year, according to the CML.

However, it was a 5% rise on January 2010 levels – the first year-on-year increase since August 2010, said the Council.

The CML has previously said the housing market will remain subdued in 2011, due to uncertainty surrounding the economy and the ongoing mortgage rationing by lenders.