Mortgage lending increased by a record amount during May as consumers continued to make the most of low interest rates, figures showed today.
The Council of Mortgage Lending said total advances by banks and building societies reached Stg£19.5 billion last month.
The jump is the third new record in three months, and 19% higher than April's record of Stg£16.4 billion.
Figures put out by the British Bankers' Association today also showed lending reached a new high during May.
The group, which measures increases in lending by banks after redemptions and repayments are taken into account, said mortgage lending rose by Stg£5.25 billion last month - the fourth record set during the past five months.
It was also well up on the previous high of Stg£4.6 billion in April. The CML said although remortgaging remained buoyant, the housing market provided the main stimulus, with advances for house purchase increasing to Stg£12 billion, from Stg£9.2 billion in April, the highest figure since records began.
