Gross mortgage lending totalled £18.2bn in February, a rise of 0.7% on the year but down 8% on the month, figures from the Council of Mortgage Lenders show.
Lending was driven by first-time buyers and those remortgaging, CML senior economist Mohammad Jamei said. Lending to home movers and the buy-to-let sector remained weak.
The weak figures for home movers is exacerbating the supply/demand imbalance, a situation that could continue for the next few months, he said.
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