According to the latest Bank of England lending report, mortgage approvals rose again in October to 29,358 and the number of loans for property purchases went up to 52,982.
The total value of the loans increased slightly from £12 billion to £12.1 billion.
Remortgage approvals also increased to 29,358, significantly above the previous six-month average of 27,602, and new house purchases and remortgage levels increased for the third consecutive month.
Net lending to individuals fell in October as consumers repaid advances of £0.5 billion in October, in sharp contrast with September’s figures which showed an increase in lending of £1.1 billion in unsecured credit. However, lending over the 12-month period showed growth of 0.6%.
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