Home buyers defy seasonal dip in housing market as new home loans jump 81pc

Home buyers defied the seasonal dip in the housing market as figures suggested the number of mortgages approved for those buying a new home jumped by more than 80 per cent.

A total of 38,000 loans for house purchase were approved in August, up 81 per cent compared with a year ago, according to the British Bankers’ Association.

The sharp rise comes on the back of significantly low levels of lending last year during the banking crisis.

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