Mortgage lending levels are on the rise but nowhere near the levels of lending in the heady days before the recession. Some of the reasons the levels have not risen as rapidly as expected since we began to come out of recession are the new regulations on affordability and the perceived general reluctance / caution on the part of the lenders. The increase in mortgages approved this year can only be a good sign for the housing market - however with the lending standards still tight it is hard to imagine this rate of growth can be sustained.