Homebuying is hotter than July

Summer homebuyers continue to set new borrowing records, taking out £30.4bn worth of mortgages in July – almost a fifth more than a year earlier.

Mortgages taken out in July slipped 6% below June's record figure of £32.4bn, according to figures released today by the Council of Mortgage Lenders (CML), but still managed to set a new record for the month.

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