The number of mortgages approved for house purchase in Britain jumped to a 17-month high during July as buyers continued to return to the country's property market.
A total of 38,181 loans were approved for people buying a home, 77% more than in July last year and the highest level since February 2008, according to the British Bankers' Association.
There was also a rise in total mortgage advances, with £8.4 billion lent during the month, up from £8.1 billion in June.
But despite the increase, the BBA said the figures were below seasonal expectations. It added that new lending was being offset by people reducing their mortgage debt, with net lending, which strips out redemptions and repayments, falling to £1.6 billion, its lowest level since October 2000.
