Mortgage lending fell sharply last month after the government wound down the stamp duty holiday.
Net borrowing using mortgage debt tumbled to £1.6bn in October, down from £9.3bn in the previous month, according to the Bank of England. The lending figure was the lowest since July, when borrowers repaid £2.2bn of their mortgage debt.
Gross lending tumbled to £19.3bn last month from £30.7bn in September, while total repayments fell to £18.2bn from £20.6bn.
Net borrowing in October was £4.6bn below the 12-month average for the period when the full stamp duty holiday was in effect.
