Mortgage lending bounces back in August

Net lending, which does not take into account redemptions and repayments, rose by £0.7bn in August, the highest level since February. The rise comes after homeowners repaid £203m more than was advanced during July. But the 12-month growth rate continued to fall by 0.1% to 0.8%, and the three-month annualised growth rate remained at 0.2%. Within total secured lending, secured lending by banks excluding the effects of securitisations, increased by £2.7bn, above the £2.3bn increase in July and in line with the six-month average of £2.6bn. The number of house purchase approvals stoo...