Mortgage lending jumps, says BBA

Mortgage lending in the UK grew stronger in July following a modest rise in June, with net lending going above the six-month average,the BBA says. Gross and net mortgage lending both gained more than 10% in July compared to the previous month. Gross mortgage lending totalled £16.9bn - a 16% rise compared to July last year, and 13% higher than in June this year. July's seasonally adjusted rise in net lending of £5.5bn was also 11% higher than in June. This is well above the six-month average of £4.9bn, the BBA adds. In total, 281,500 mortgage loans were approved...