Gross mortgage lending was an estimated £13.4 billion in August, according to the Council of Mortgage Lenders (CML).

This represents a 6% rise from £12.6 billion in July and a 10% increase from £12.1 billion in August 2010.

The CML reported that this is the highest monthly total since July 2009 (£14 billion) and the highest monthly total for August since 2008 (£19.3 billion).

Bob Pannell, the CML’s chief economist, said: “Much of the recent variation in monthly lending figures appears to have reflected seasonal factors