Lending activity in the U.K. will continue to be subdued for the rest of the year, despite in increase in gross mortgage activity in July, according to the Council of Mortgage Lenders. Gross lending was up 5% in July compared with June but was 3% less than a year earlier. The CML data indicates that lending is on track to reach the revised goals of £140 billion ($219 billion) for 2010.
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