Mortgage lending up slighlty this month

Mortgage lending edged up by 2% during September, latest figures have shown. Loans totalling £12.5 billion was issued during the month, the second highest figure this year , according to the Council of Mortgage Lenders (CML).

CML economist Paul Samter said: "House-buying activity is running at considerably higher levels than around the turn of the year...However, it remains weak on any historic comparison and is unlikely to rise much further given the constraints the lending community faces and a still difficult economic backdrop."

Loans totalling £38.9 billion was advanced during the third quarter of the year, 18% more than during the previous three months.