Mortgage lending rises but housing market remains slow

 

Mortgage lending rose by 5% in July, compared to June, but remains down 3% year on year

 

 

Mortgage lending rose by 5% in July compared to the previous month, to £13.6bn, but was down 3% from £14bn in July 2009, supporting claims that the housing market is slowing down.

 

The gross lending figures, published by the Council of Mortgage Lenders(CML), indicate that lending is on track to meet the CML's lending forecast of £140bn for the year.

 

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