Mortgage approvals rose to their highest level in more than a decade in July as buyers took advantage of increasingly competitive rates.
UK Finance, the trade body representing lenders, said that approvalsrose on a non-seasonally adjusted basis to 95,126 in July, up from 87,013 in June and the highest figure since March 2009.
Growth was driven by remortgaging, which rose by 19.4 per cent to 30,218 on a seasonally adjusted basis, while approvals for home purchases were up 16.4 per cent to 43,342.
