Gross mortgage lending declined by nine percent in January, according to the Council of Mortgage Lenders' latest estimates.
The CML has calculated that borrowing dropped to £10.4bn in January, down from December's gross lending figure of £11.4bn.
The figure also represented a three percent drop on January 2012's total of £10.7bn.
CML market and data analyst Caroline Purdey said: "Housing sentiment remains positive, despite ongoing economic pressures. A worsening in the outloo...
