Mortgage Lending Falls in the First quarter of 2010
Mortage lending fell in the first quarter of 2010, down by 30,000 on the previous quarter. The figures indicate that the recovery in the housing market has certainly slowed down, if not stopped entirely.Net lending in March was just £318 million, down from £1.85 billion in February, the lowest figure since July 2009. The figures were partially distorted by the end of the stamp duty holiday. The uncertainty of the outcome of the General Election campaign are also unlikely to have helped with buyers waiting to see what happens to interest rates and the economy.
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