Gross mortgage lending in July totalled £8.4 billion, according to the British Bankers’ Association – slightly below the average of the previous six months.
Net mortgage lending increased by £2 billion in July compared with £2.1 billion in June and £2.2 billion 12 months ago.
The annual growth in the banks’ net mortgage lending is 4.1%, well ahead of the 0.9% for the whole mortgage market in June.
BBA statistics director, David Dooks said: “Gross mortgage lending remains stable