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Year on year rise for gross mortgage lending

By Denise Allen - 03 February 2012

Gross mortgage lending in December was an estimated £11.7 billion, according to the Council of Mortgage Lenders (CML).

This represents a 12% rise from December 2010 (£33.6 billion).

Lending totalled an estimated £37.3 billion in the fourth quarter of last year, 11% higher than the last three months of 2010 (£33.6 billion).

For 2011 as a whole, estimated lending totalled £140 billion, this is up 3% from £136 billion in 2010.

The closing months of 2011 saw stronger mortgage lending activity and housing transactions, despite the fact that short-term economic prospects are challenging.

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