The number of mortgages approved for people buying a home jumped to its highest level for more than two years during December, figures have shown.
A total of 45,897 loans were approved for house purchase during the month, double the number seen 12 months earlier and the highest figure since September 2007, according to the British Bankers' Association.
In a further sign that the housing market is continuing to recover, total mortgage advances rose by 6% during the month to reach £10.2 billion, a level last seen in November 2008. The group credited the jump, which came during a month when the mortgage market traditionally slows down, on people rushing to complete house purchases before the Government's stamp duty holiday on properties costing up to £175,000 ended at the beginning of this year. Source: Press Association
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