Mortgage lending continues to break all records by Finance News Bulletin

Published: 16/05/07

UK mortgage lending in August broke minutes for the tenth successive month, the Council of Mortgage Lenders (CML) has announcedOverall mortgage lending rose to £327 billion in imposing, up £300 million, or 72 per cent on July's figures, and 21 per cent up on the same month of 2005

"evidence lending in August reflects the go up in mortgage approvals during the early summer joint with increasing house prices," said CML boss Michael Coogan"The power of the London market is also a factor - with property values and mortgage sizes substantially senior than in other parts of the country"Mr Coogan said that growth in the mortgage marketplace is expected to continue, despite the increase in the best rate mortgage costs next August's base speed rise"Despite today's figure being the tenth monthly lending record of the past year, this height of lending is sustainable and illustrates the market is in fundamentally robust form,"The CML figures confirm similar statistics issued by the Royal organization of Chartered Surveyors and the structure Societies Association

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