Lending improved in August says CML

This was one of the highest figures on record, says the CML, 4% higher than the figure in August 2004 of £26.5bn and the highest figure since July 2004. There was an increase in all types of lending, although the most pronounced increase was in remortgaging which went up by 15% to £11.7bn in August from £10.2bn in July and reaching its highest level since October 2003. This, says the CML, probably reflects borrowers taking advantage of lower interest rates and consumers remortgaging to cheaper deals, as a larger number of people were coming to the end of their previous deals. But as a...