CML reports record mortgage lending

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by Brian Turner

The Council of Mortgage Lenders (CML) has reported that mortgage lending continues to be robust.

Although lending in July was down slightly on the previous month, at £34.4 billion it represents the highest July lending figure on record.

It comes at a time when interest rates are believed to have yet to impact the UK property market. And while the lending figure is strong, the majority of mortgage deals appeared to be in remortgage markets.

Figures from the British Bankers’ Association (BBA) confirmed the CML’s position, stating that they have seen continued growth in mortgage lending sums.