Mortgage lending figures show "surprising strength"
The latest lending figures from the Council of Mortgage Lenders for December showed "surprising strength" during a traditionally quiet time, according to Your Mortgage.
Gross mortgage lending last month reached an estimated £13.7, an increase of 14% on November 2009 and a 3% rise year-on-year.
Paula John, editor of Your Mortgage, said that the increased activity in the mortgage market reflects the number of more attractive and competitive deals available at the moment.
"This year has also been surprisingly upbeat...There has been more activity in the housing market, first-time buyer numbers are not dramatically up or down on their historical average, but they have picked up a bit which is always good news," she explained.
Overall mortgage lending was down 43% in 2009 due to the increasing demand for higher deposits and the unwillingness of householders to move during tough economic times. According to Ms John, in recent months the best mortgage deals have required a 40% deposit.
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