The number of loans approved for house purchase rose to 49,239, up slightly from June’s figure of 48,500 and above the previous six-month average of 46,822, the Bank of England has revealed.

This was just up on the 48,562 loans approved last July.

Total lending secured on homes increased by £0.7 billion during July, compared with the previous six-month average of £0.9 billion
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Chris Gardner, director of mortgage brokers Obligo, said: “Despite the modest increase in the number of mortgage approvals in July