By Daniel Hunter
Mortgage lending in the UK reached its highest level since the financial crisis in 2008 in July, the Council for Mortgage Lenders (CML) has said.
Home buyers borrowed a total of £22 billion in July, more than in any month since July 2008.
Following "subdued activity" in the first half of the year, the CML said it expects mortgage lending to improve in the remaining months of 2015. For the year, it expects lending to reach £209bn which would be a 3% rise on last year.
"We expect lending activity in the rest of the year to be underpinned by improving economic fundamentals, but kept in check as any upward pressure on house prices further stretches affordability for some buyers," said CML economist Mohammed Jamei.