New December Record for Mortgages
The Council of Mortgage Lenders say that 2005 had the busiest December since records began
20th January 2006
Figures from the Council of Mortgage Lenders (CML) show that December 2005 was the businest December on record, with a total of over £26bn in mortgage advances made.
Although the monthly figure was down 6% compared to November, this is usual as mortgage activity always slows down in the run up to Christmas. In any case, the decline was smaller than in previous years.
As a whole, 2005 saw figures slightly below those of 2004, although market activity picked up in the second half of the year after a slow start.
The CML says it expects this trend to continue into 2006 with a continuing rise in mortgage approvals.
Read More: Money Guardian : Mortgage lending breaks December record
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