Mortgage Lending Up By Nearly A Third

Mortgage lending was up by 29% in July compared to the same month last year.

The Council for Mortgage Lenders said that total gross lending increased to £16.6bn in July, up from £14.8bn in June.

It is the highest monthly estimate since before the financial crisis hit, with lending pitched at £18.6bn in October 2008.

CML market and data analyst Caroline Purdey said: "An improvement in sentiment and activity continues to show in the UK housing and mortgage markets, with a more positive picture also starting to emerge in the economy.

"Our forward estimate of gross mortgage lending in July reinforces a growing evidence base of a strengthening in the housing and mortgage markets."

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