Figures show renewed confidence in UK housing market

There have been more encouraging signs of renewed confidence in the UK housing market , with figures for last month showing mortgage lending was at its highest for five years.

The Council of Mortgage Lenders revealed lending rose to more than £16 billion in July - up 12 percent on the previous month.

Consumer Editor Chris Choi reports:

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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.