The housing market revival witnessed in recent months may soon become a full-scale recovery, figures obtained by a property survey suggest.
Total lending to individuals increased by £1.4bn last month, according to Bank of England (BoE) data, against an average monthly increase of £1bn over the previous six months.
The Financial Conduct Authority (FCA) has begun tracking intermediaries' and lenders' progress towards implementing new rules following the Mortgage Market Review (MMR).
House prices have risen by an average of £6,726 in the past year thanks to a ‘significantly improved' mortgage market.
Average property prices in the UK saw an annual increase of 2% to April 2013, according to the Halifax House Price Index
Hundreds of thousands of interest-only mortgage borrowers whose deals mature before 2020 are likely to face a funding shortfall, according to estimates produced for the Financial Conduct Authority (FCA).
Lenders approved 5% more mortgages in March than the previous month to reach a monthly total of £7,646m in loans, according to British Bankers' Association figures.
House prices in England and Wales rose by 0.3% in March, the largest month-on-month increase since March 2010, figures suggest.
The Confederation of British Industry (CBI) has urged the Chancellor to make house building and home finance the main plank of his upcoming Budget in order to boost confidence in the economy.