Mortgages Down in September

Lending on Mortgages dropped to its lowest September level for a decade last month.  Activity in the housing market remained fragile, figures showed today.

According to the Council of Mortgage Lenders, £11.98billion was given during the month, 1 per cent down on August and the lowest figure for September since 2000.

It is the second consecutive month during which lending levels fell. The housing market failed to benefit from its traditional summer bounce.