Gross mortgage lending up 10% on year
Gross mortgage lending reached an estimated £13.4bn in August, a 10% rise from £12.1bn in August 2010, according to the Council of Mortgage Lenders.
There's been mixed reasons for the rise, including seasonal factors and record low mortgage rates.
Mortgage lending may have increased, but according to HM Revenue and Customs (HMRC) there were 6,000 fewer property sales than in July - which had seen the highest total for a year. Records show that there is traditionally a drop in August because of the quieter holiday season.
Trinity Financial was asked to comment on the BBC News website. The story discusses lending figures and mortgage rates: http://www.bbc.co.uk/news/business-14984489
September 22, 2011
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