Gross lending rises to nine month high in July

This is a nine month high but still represents a 36% decline from the £24.9bn recorded in the same month last year. The trade body says lending figures remain at historic lows as July's £16bn of gross lending is the lowest July figure since 2001. It is also £11bn lower than the July average over the previous seven years. However, it says the rise in lending in July compared to previous months points to a modest improvement over the summer following "an exceptionally weak winter". Lending volumes remain consistent with the CML's forecast of a total £145bn in gross mortgage lending f...