Mortgage lending fell in 2019 according to figures from UK Finance
Data shows a 0.4 per cent fall in lending
Last year saw the first annual fall in gross mortgage lending since 2010 as affordability pressures limited house purchase activity, according to a trade association.
Around £268 billion worth of home loans were handed out in 2019, down by 0.4% on the previous year, UK Finance said.
Affordability has generally limited house purchase activity across the country, according to the report.
It said that while toughened regulations on affordability have increased consumer protection, they have also constrained the ability of lenders to offer certain borrowers mortgage credit to get on or move up the housing ladder.
With house price growth varying across the UK, the lack of equity that some people have in their homes is also weighing down their ability to move up the property ladder, the report said.
Published: by Radio NewsHub