– Caroline Purdey, Council of Mortgage Lenders market and data analyst
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.
The total gross mortgage lending in July increased to £16.6 billion - a rise of 12% from the previous month, according to figures released by the Council of Mortgage Lenders.
The figures also represent a 29% increase from July last year and is the highest monthly estimate since October 2008.
Derby City Council and Lloyds TSB will today join forces to help first-time buyers purchase a home with a deposit of just five per cent.
The move to help people onto the property ladder, has already been rolled out by some councils across the Midlands, including Lincoln, Nuneaton, Rugby, Stafford and Gelding.
Derby City Council has set aside £1million to help 35 to 40 buyers on to the property ladder through the Local Lend a Hand scheme.