UK mortgage lending increases- Bank of England

Mortgage lending increased after a dip in July but economists suggested the recovery in the housing market may be “losing steam”.

Net mortgage lending – which strips out redemptions and repayments – climbed by £1 billion in August from the previous month to £1.227 trillion, according to the Bank of England.

The figures also suggested that the number of mortgage approvals for those buying a new home remained steady at 52,317 in August, marginally down from 52,404 the previous month.

Numbers remortgaging also fell – but more markedly to 29,000 in August, down from almost 34,000 in July.

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