Mortgage lending rebound a 'see-saw' pattern

Total mortgage lending bounced back in July, according to the Council of Mortgage Lenders (CML).

Lending to house buyers and people remortgaging rose by 8% from June to the highest monthly level this year of £12.7bn, with the figure up 2% from the same month last year.

However, the CML warned that the figures should be treated cautiously.

Director General Paul Smee said that behind the monthly "see-saw" pattern of lending, the housing market was still "broadly flat".