Home loans in February dip

Ben Southwood
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MORTGAGE lending crashed in February, but remained marginally higher than a year earlier, figures published yesterday showed.

Home loans totalled £10.5bn last month, the Council of Mortgage Lenders (CML) said, down eight per cent from January’s £11.4bn, but still just above the £10.4bn in February 2012.

But CML chief economist Bob Pannell said: “There continues to be signs of improvement in activity and sentiment in the housing and mortgage market sector, despite headwinds from a challenging economic backdrop.”