The most recent mortgage statistics have been released by the British Bankers' Association (BBA).

According to its data, mortgage approvals and new lending have risen.

But the BBA also reported that the levels were still lower than what seasonal expectations would have predicted.

David Dooks, statistics director for the BBA, commented: "The numbers of mortgages approved for house purchase each month by the high street banks have continued to recover from last November's low point, but new lending is largely being offset by repayments, so that net rises remain relatively weak."

According to the data, net mortgage lending reached a new low as a result of offsetting repayments. It was at its smallest value since 2000.

Figures released earlier this month by the Council of Mortgage Lenders showed that the buy-to-let market appeared to be levelling out.

The decrease in new lending was slower than it had been and arrears in landlord rent showed a degree of recovery.

Written by Claire Doyle
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