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Gross mortgage lending 'rose in February'
New figures have revealed that gross mortgage lending in the UK rose during February.
According to research from the Council of Mortgage Lenders, the level of lending increased by six per cent to an estimated £9.2 billion, which the body claimed was surprising for the shortest month of the year.
Lending in the month was down six per cent on the figure of £9.7 billion recorded 12 months ago, but the CML added that the figures were in line with its forecasts for the whole of 2010.
Paul Samter, an economist for the body, said further improvements are expected as confidence in the economy grows.
However, he added: "The need for the authorities to address fiscal deficit will inevitably slow the economy. At the same time the funding markets, while certainly better than a year ago, remain difficult and will limit the flow of available housing finance."
The CML recently revealed that property sales in the UK during January were affected by the end of the stamp duty holiday.