Gross mortgage lending in December was an estimated £11.7 billion, according to the Council of Mortgage Lenders. This represents a 12% drop from £13.2 billion in November but a 12% rise from December 2010 (£10.5 billion). December was the fifth month in a row of higher year-on-year lending. Lending totalled an estimated £37.3 billion in the fourth quarter of last year, down from £39.2 billion in the previous quarter but 11% higher than the last three months of 2010 (£33.6 billion). For 2011 as a whole, estimated lending totalled £140 billion, slightly above our annual forecast of £138 billion. This is up 3% from £136 ... (full story)