The amount of lending being secured against property is "holding up" in spite of pessimistic predictions, it has been claimed.

Sue Anderson, head of member and external relations at the Council of Mortgage Lenders, makes the statement in light of figures from the Bank of England.

The Bank reveals that its research detects a smaller reduction in mortgage lending than other recent studies have found.

In turn, this could indicate continued support for secured home loans arranged for purposes other than house purchase.

"The level of lending is looking as if it is holding up to a greater degree than some of the pessimists have been expecting," Ms Anderson observes.

Secured home loans may in fact be gaining in popularity when compared with the number of traditional mortgage approvals over the course of October.

While 12,000 fewer mortgages were approved during the month, the number of loans for purposes other than house purchase declined by 5,000.ADNFCR-1287-ID-18377100-ADNFCR

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