CML: November lending hits ten-year low

This was 5% down on October's figure of £11.6bn and 10% down on November 2009, when mortgage advances reached a distorted £12.3bn due to the end of the Stamp Duty holiday. In November 2000, gross mortgage lending was £10.9bn and this November's fall marked the fifth consecutive month where gross mortgage lending was at its weakest levels since the equivalent month of 2000. Bob Pannell, chief economist at the CML, says: "The fall in gross mortgage lending in November reflects the usual seasonal slowing of activity at this time of year and reinforces the picture of a continuing flat mar...