| Increase in Mortgage Lending |
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Gross mortgage lending seen a dramatic increase in June rising to £12.3 billion. This was a 17% increase from the £10.5 billion borrowed in May. However it was significant fall from June 2008 which seen £23.8 billion lent to home movers. Although these figures may represent a recovery in the housing market it is worth noting that the increase may due to the seasonal summer house move. The Council of Mortgage Lenders still expect lending to be approximately £145 billion for 2009. |