View more on these topics

Net lending for 2009 falls to record low

Net lending for the whole of 2009 fell to its lowest level for 22 years, reveals the latest data from the Bank of England.

Net lending for the year totalled £11.53bn, which the Council of Mortgage Lenders says its the lowest level since 1987 when records began.

But the figure is up on the levels predicted by the CML, which forecast £8bn in net lending for the year.

Gross lending hit £143.5bn in 2009, while gross lending for December came to £13.4bn.

Paul Samter, economist at the CML, says: “These figures confirm that the mortgage market ended 2009 in much better shape than it started, but it still looks like a slow haul back to meaningful levels of activity.

“It should be no surprise if January and February this year appear particularly slow, if we are correct in our view that many buyers rushed to beat the Stamp Duty concession deadline in December.”


Michael Bolton to head Clayton Euro Risk sales

Michael Bolton, ex-chief executive officer of Edeus and former head of specialist lending at HBOS, has joined Clayton Euro Risk as director of sales and marketing – Europe. Clayton Euro Risk is one of the UK and Europe’s largest loan and mortgage asset risk assessment and due diligence businesses. Bolton has recently been consulting to […]

A commitment not to be taken lightly

As a girl I went with my parents when they went to arrange their mortgage. This entailed a personal meeting with the branch manager of the building society where they were savers and had their existing mortgage. I was left under no illusion that this meeting was a big deal – we all had to […]

Make sale-and-rent-back available to all

Whoever you are and whatever your circumstances you can get into financial difficulty. The credit crunch and recession has led to people right across the social spectrum needing solutions such as sale-and-rent-back. If a family is in financial difficulty, we should look to find a solution based on their needs and not on where they […]

TMW forms now available to MTE users

The Mortgage Works, the specialist arm of Nationwide, has made its decision in principle and full mortgage applications forms available to users of the Mortgage Trading Exchange.


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • John Gilbert 1st February 2010 at 4:31 pm

    Consumers mortgage intentions in the GfK /JGFR Financial activity survey in December are the weakest in the survey’s 7-year history suggesting a tough start for the industry in 2010 despite the very low interest rates.