These figures from the council of mortgage lending are in line with their forecasts; they have previously estimated a figure of around £141 billion for the whole of 2009.
The council of mortgage lenders also commented that much of the mortgage activity has come from house purchase. There is often little or no great incentive for many home owners to consider remortgaging as rates remain at such historic lows. There is also the constrains on deposits with many home owners simple unable to raise the necessary funds to remortgage as their equity in their properties has been reduced by the house price falls in previous years.