By Marcus Leach
According to the latest figures from the Council of Mortgage Lenders (CML) mortgage lending in the UK remains subdued.
The data shows that lending remains lower than this time a year ago, with the number of new loans to house buyers at 48,400 in July, up by 1,000 from June but still 6,900 lower than a year ago.
On top of that the CML said that the number of first-time buyers was down by 300 from June, and 1,300 from the same time last year.
"August saw global financial turmoil and unrest closer to home and recent Bank of England approvals figures do not necessarily suggest a continuing upturn in lending in coming months," said the CML's director general Paul Smee.
"However, it is likely that this reflects weak consumer appetite for borrowing, more than any additional constraints on the availability of mortgages," he said.
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