Gross lending in the U.K. in 2010 was at its lowest level in 10 years, according to the Council of Mortgage Lenders. The CML reports that lending in December was down 6% from the preceding month and 18% off from a year earlier. It was also the fourth month in a row in which the figure was the lowest since 2000, says the CML. The year ended slightly ahead of forecast at £136.3 billion ($217.92 billion), but was 5% lower than the 2009 figure, and was the lowest since £119.8 billion ($191.5 billion) was recorded a decade ago.
Click here to read the release from Council of Mortgage Lenders.