Building Societies gross lending for May has bounced back following a minor blip in April, according to the latest figures from the Building Societies Association.
Gross lending was up 12.6 per cent to £2,370m in May from £2,104 in April.
Net advances were also up on April by 17 per cent to £1,180m from £1,005m.
Savings witnessed a 21.5 per cent increase with net receipts up to £1058m from £871m in April.
BSA director general Adrian Coles says: "The lending figures once again reflect a strengthening housing market, with building society net lending the highest since before the restructuring of the sector in 1997."