By Daniel Hunter
The Council of Mortgage Lenders estimates that total gross mortgage lending in July increased to £16.6 billion, representing a rise of 12% from £14.8 billion in June and 29% higher than the total of £12.9 billion in July last year.
This is the highest monthly estimate for gross lending since October 2008 (£18.6 billion).
"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," Caroline Purdey observed.
"Our forward estimate of gross mortgage lending in July reinforces a growing evidence base of a strengthening in the housing and mortgage markets."
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