Gross mortgage lending in June was up 15% on the previous four weeks and 7% on the same period in 2009, reveals the Council of Mortgage Lenders (CML).
Last month, the total number of house purchase loans approved stood at £13.1 billion, an increase from £12.2 billion in June 2009.
Despite the positive data, CML economist Paul Samter said that the swell was attributable to seasonal trends and suggested that the larger picture still indicates low levels of activity in the private residence market.
Lending in the second quarter of this year was also higher than during the first three-month period, up 17% to a total of £35 billion - standing 7% higher than the same phase in 2009.
The Financial Services Authority recently announced plans to make it harder to get a mortgage, with the aim of ensuring that those who are granted a house purchase loan are able to afford the repayments.
Financial News
Gross mortgage lending increases in June
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