Mortgage lending rises 5% in July but outlook subdued

However, this is still down 3% from £14bn compared to July 2009, according to CML data. The figures back up the trade body's prediction that 2010 will see £10bn less lending, at roughly £140bn, against last year. CML economist Paul Samter, says: "It is difficult to see anything other than a slow market for the rest of this year as underlying activity remains subdued. "The pick up in late 2009 won't happen this year as home buyers rushed to buy before the end of the first stamp duty holiday. But for most home owners, the situation is not that bleak. "The vast majority of househol...