Paul Smee
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Mortgage lending outlook uncertain, says CML

Economic uncertainty makes the future of the UK mortgage market "difficult to call", a lenders' group has said.

Paul Smee, director general of the Council of Mortgage Lenders (CML), said the market for home loans was currently stable.

The number of mortgages taken out for house purchases was 48,200 in September, down 2% from the month before, the CML said.

First-time buyers needed an average deposit of 20% of a home's value.

  • 11 Nov 2011