CML: Mortgage lending remained strong in July

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CML: Mortgage lending remained strong in July

Fri 18th Aug 2006

Gross mortgage lending topped £30.4 billion in July, which is the second highest figure on record and the strongest ever July statistic, according to latest data.

New figures from the Council of Mortgage Lenders (CML) reveals that lending in July was six per cent below the £32.4 billion of lending in June.

However, it was 19 per cent higher than the £25.5 billion of lending in the same month last year.

CML director general Michael Coogan said: "Another month, another record lending figure. Seasonal factors are continuing to support housing transactions and buoy house price growth."

"Bank of England approvals data shows that there is a strong appetite among borrowers for remortgages and other types of loan."

The CML include banks, building societies and other lenders who undertake around 98 per cent of all residential mortgage lending in the UK.

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