New figures from the British Bankers’ Association show that mortgage borrowing in the UK is growing again, but remains at a far lower level than the same time last year.The spring upturn in the home finance market saw 191,857 mortgages approved in April, a two per cent increase in borrowing on March but 17 per cent lower than the same month last year.

The BBA also revealed that the average amount borrowed was £122,700.The number of loans for property purchases increased to a nine-month high, but was still down on last year’s figure.”Whilst growth in net mortgage lending continued to be relatively weak in April, there are signs that the falling trend may be stabilizing,” said Daivd Dooks, BBA director of statistics. “Approvals, particularly for house purchase, are responding to the usual spring stimulus and, although not near the levels of last year, they indicate sufficient activity to support mortgage lending in the near-term,” he added.