Mortgage loan growth slows

Chris Papadopoullos
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THE HOUSING market continues to lose steam with the amount of mortgage lending falling for the second consecutive month.

The Council of Mortgage Lenders yesterday estimated that gross mortgage lending reached £17.8bn in September – one per cent less than in August. However, this is 10 per cent higher than last year.

“There is growing evidence that mortgage lending activity, and the housing market, are sitting on a plateau,” said CML chief economist Bob Pannell.

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