Mortgage lending increased by 5% in October to reach £13.5bn, according to the data released by the Council of Mortgage Lenders (CML).

Lending has risen to £13.5bn compared to £12.9bn in September, but October's figure is still down 27% compared to the money that was lent to homebuyers in October 2008.

"This is typical seasonal activity between September and October - the average monthly rise over the last decade has been 5%," said a spokesman for the CML.