Home loans and remortgages in the UK dipped month-on-month in September, according to the Council of Mortgage Lenders (CML).
Loans for home purchases valued at £7.1 billion were lower by two percent in number and down five percent in value in September, when compared to data from August, although both are up three percent year-on-year.
Remortgages valued at £4.3 billion saw a one percent decline on August. However, it rose 25 percent in number and 26 percent in value from September 2010.
The CML emphasised that the decline was attributed to the fall in home moves, rather than first-time buyer activity.
Paul Smee, Director General at CML, said, “the backdrop of global and domestic instability makes the future more difficult to call”.
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