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| Mortgage lending jumps in August, lenders say | Mortgage lending jumps in August, lenders say |
| (35 minutes later) | |
| Mortgage lending to house buyers jumped from July to August, according to the Council of Mortgage Lenders (CML). | Mortgage lending to house buyers jumped from July to August, according to the Council of Mortgage Lenders (CML). |
| The number of new loans granted rose by 12% to 55,300, a figure which was also 11% higher than in August last year. | The number of new loans granted rose by 12% to 55,300, a figure which was also 11% higher than in August last year. |
| House sales have rising gently this year, although they are still low compared with the middle of the last decade before the financial crisis. | House sales have rising gently this year, although they are still low compared with the middle of the last decade before the financial crisis. |
| The CML said it was too early to tell whether recent government initiatives were having an effect. | The CML said it was too early to tell whether recent government initiatives were having an effect. |
| "House purchase lending showed an encouraging rise in August, but it's unclear whether this reflects just the unravelling of previous factors such as the Jubilee and the Olympic Games, or a shift in the underlying picture," said the CML's director general, Paul Smee. | "House purchase lending showed an encouraging rise in August, but it's unclear whether this reflects just the unravelling of previous factors such as the Jubilee and the Olympic Games, or a shift in the underlying picture," said the CML's director general, Paul Smee. |
| "We will wait and see whether schemes such as Funding for Lending and NewBuy provide a further boost to the market in coming months." | "We will wait and see whether schemes such as Funding for Lending and NewBuy provide a further boost to the market in coming months." |
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