The Council of Mortgage Lenders has reported that gross mortgage lending fell last month.
According to the organisation, gross lending fell by eight per cent to £30.7 billion last month, compared with £33.5 billion in October.
Michael Coogan, director general of the Council of Mortgage Lenders, said that the decline in mortgage lending is expected to continue into next year.
"However, while lending will be subdued in coming months we see this as primarily a result of lack of available funding rather than lack of consumer demand," he remarked.
Mr Coogan also called for the support offered by the Bank of England to "inject liquidity" into the market to continue.
In related news, Helen Adams, director of FirstRungNow, suggested earlier this week that mortgage lenders are now choosing to target "better qualified" people.
According to the expert, guarantor mortgages, professional mortgages and graduate mortgages are likely to "come to the fore".
Mortgage lending falls in November
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Mortgage lending falls in November
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