CML: Mortgage lending up 8%
Gross mortgage lending in the United Kingdom increased by eight per cent last month, according to the Council of Mortgage Lenders.
Data published by CML today shows lending reached £12.7 million in July, an 8.1 per cent increase on the £11.7 million of lending in June. Lending year on year has increased 1.7 per cent from the £12.5 million last July.
Caroline Purdey, market and data analyst at CML, said: ‘Gross mortgage lending showed an eight per cent increase from last month, continuing the see-saw pattern seen throughout this year, albeit against a broadly flat market.
‘Interpretation of recent trends continues to be challenged by one-off effects. We look forward to the September figures when the distorting effects of the Diamond Jubilee and the Olympics should largely have worked their way through.’