The CML said that this is the highest monthly total since July last year when the total stood at £13.3bn.

Gross lending for the second quarter of 2011 was estimated at £33.5bn, an 11% increase from the first three months of this year when the total stood at £30.1bn.

Overall, lending in the first half of this year totalled £63.7bn. This is slightly below the first six months of 2010 when it was £64.1bn.

Bob Pannell, chief economist at the CML, said that strong consumer price pressures, falling disposable incomes and an uncertain jobs market has weighed negatively on purchase decisions relating to home ownership.

“UK households have made progress in bringing down debt burdens over the past year or so, but this largely stems from the restricted levels of new mortgage lending, unsecured write-offs and nominal income growth. Households in aggregate are not repaying their mortgage debt more quickly.

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“Recent emotive headlines on repossession prospects appear overplayed, given that the state of our economy does not warrant large interest rate rises for the foreseeable future. But we do expect to see moderately higher arrears and possessions through the second half and into 2012, as we have previously forecast.”

Matt Hutchinson, director of flat and house share website, Spareroom.co.uk, said that by contrast, landlord activity has picked up in the last few months.

“For many people, property ownership is increasingly associated with financial risk rather than financial stability, and it’s a risk they are less inclined to take.

“The result is an explosion within the rental market, with competition for rental property higher than ever and rents going through the roof.

“While the property ownership market stagnates, the rental market continues to surge forward.”