The proportion of mortgage purchases is at its highest level for a number of years, according to the latest mortgage index from Charcol.co.uk.

It found that the proportion of mortgages for purchases broke the 60% barrier in July, which Drew Wotherspoon, director of marketing at Charcol.co.uk, claims to show a certain confidence in the future of the market.

“There is much talk of a double dip and a large correction in the housing market still to come