Big rise in mortgage lending

The total gross mortgage lending in July increased to £16.6 billion - a rise of 12% from the previous month and 29% up on July 2012, according to figures released by the Council of Mortgage Lenders.

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Mortgage lending rise points to housing market revival

The mortgage figures released today, which showed that lenders enjoyed their strongest month since October 2008, are the latest numbers that point to a housing market revival.

  • Last week, a report by the Council of Mortgage Lenders showed that first-time buyers have risen to the highest levels since 2007.
  • House prices are rising at their fastest rate since 2006, according to the Royal Institution of Chartered Surveyors.
  • Asking prices on flats have also reached an all-time high, property search website Rightmove reported yesterday.
  • They also found that prices in London are up by 10% compared with a year ago as confidence flows back into the market.


Mortgage figures show housing market 'strengthening'

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.

– Caroline Purdey, Council of Mortgage Lenders market and data analyst
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