UK launches record amounts of mortgage lending – Bank of England

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LONDON, July 29 (Reuters) – UK mortgage lending surged by a record amount in June as homebuyers rushed to take advantage of the tax credit before it was cut, data from the Bank of England showed on Thursday.

Mortgage loans rose by 17.9 billion pounds ($ 25.0 billion) in June, the largest increase on record.

A Reuters poll of economists showed a net increase of £ 7.9 billion. ($ 1 = £ 0.7163) (Report by William Schomberg, edited by David Millikan)

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