Property lending in the UK creeps up 2% in September but likely to remain subdued, report shows

[Nicholas Wallwork]

Property lending in the UK increased by 2% in September compared with the*previous month but it is still some 27% down for the same period last*year, according to the latest figures to be published.

The figures from the Council of Mortgage Lenders also show that there*has been a pick up in house purchase activity, but this is off-set by a*decline in re-mortgaging. But the date shows an encouraging upward trend*although many analysts believe that it is still way below levels that are*needed to help the tentative property recovery.

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