Mortgage lending rises sharply in June

Gross mortgage lending was up £1.8bn in June, a 16% increase on the previous month – but remained 3% lower than June 2010, according to Council of Mortgage Lenders (CML) figures.

It takes gross lending for the second quarter of 2011 to an estimated £33.5bn, an 11% increase on the first three months of 2011 (£30.1bn) but a 3% decline on the second quarter of 2010, when lending reached £34.4bn. Lending for the first six months of the year reached £63.7bn, only slightly below the first six months of 2010 (£64.1bn).