Mortgage lending rises in June

Mortgage lending jumped in June according to figures from the Council of Mortgage Lenders (CML).

The total number of new home loans to house buyers jumped by 22 per cent from May, to 46,700.

Loans to first-time buyers reached a 10-month high, up 24 per cent from May to 18,100.

Although the level of lending was still significantly lower than a year ago, the CML said the latest figures were encouraging.

"Recent increases in Bank of England approvals figures also show that more completions are expected in July, so the more encouraging numbers may persist for a while," said Paul Smee, director-general of the CML.