Mortgage lending breaks another record - CML

Lending was up by 4% on the September figure of £29.2bn, but down by 8% from the overall record of £33bn in August. Lending was also up 12% in comparison to the £27bn lent in October last year. The CML says the pick up in mortgage lending was in line with trend. The end of the summer holidays usually sees a pick-up in house hunting and follows continued strength in mortgage approvals. CML director general. Michael Coogan, says: "For yet another month the housing market is proving itself to be in robust shape. Housing demand and mortgage approvals have been strong over recent months, des...