have revealed that lending
in the UK market
fell dramatically last month.
According to the Council for Mortgage Lenders
(CML), gross lending for home loans
fell by 32 per cent compared with December to £9.1 billion.
The decline in lending has, in part, been attributed to the rush to conclude mortgage deals
before the end of the stamp duty holiday
Paul Samter, the CML's chief economist, explained that the hangover has been created by changes to the stamp duty
He said: "Recent developments have been influenced by the end of the stamp duty holiday, and are likely to foreshadow a larger than usual seasonal drop off in activity in the early part of this year."
Meanwhile, the CML
recently announced that it is to support the Treasury's proposal to extend regulation to cover second-charge mortgages
and to ensure that borrowers
are protected when mortgage
books are sold on.