The latest figures from the Council of Mortgage Lenders (CML) show total lending was GBP 17.7 bln in September, down 10% from August and 42% lower than September last year. The level is the lowest for any month since January 2005 and the lowest September figure since 2001. The CML said it expects new lending this year would be only 37% of the 2007 level.
Meanwhile cable sits around 1.7500, bolstered in no small part by the tentative return of risk appetite.
