Gross mortgage lending up 15% last month

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Gross mortgage lending in June was an estimated £13.1 billion, a 15% rise from £11.4 billion in May and a 7% increase from £12.2 billion in June last year, according to the Council of Mortgage Lenders (CML).

Gross lending in the second quarter of 2010 was an estimated £35 billion, up 17% from the first quarter of this year (£30 billion) and up 7% from the second quarter of 2009 (£32.7 billion). Lending in the first half of 2010 remained unchanged from the first half of 2009 (£65 billion).

CML economist Paul Samter said: “Our gross lending estimate of £13.1 billion in June represents a seasonal pick-up and is higher than June last year

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