The CML figures also showed that the number of loans granted in June to people buying a house was at its highest level since July of last year, when the housing market was already entering the doldrums, and amounted to £5.9bn.
CML economist Paul Samter. was quoted as saying; "Low interest rates and realistic selling prices have helped generate a welcome increase in transactions. But there is some way to go before we reach normal levels of activity," He continued by saying ; "There are tentative signs that lending criteria are easing, but remortgaging demand is likely to remain subdued whilst interest rates stay at current levels."
The average house purchase loan rose from £105,000 in March to £111,000 in June, signalling the recent increase in the typical house price.
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