The number of mortgage approvals in the UK rose slightly in December 2008, according to new figures.
Data from the Bank of England shows that there were 31,000 home loan approvals in the final month of the year, up from 27,000 in November.
However, this was still the second-lowest figure on record and a quarter of the level seen in the same month the previous year.
Overall, the number of mortgages approved in 2008 was 519,000, a drop of 58 per cent from the 1.25 million granted in 2007.
Figures from the British Bankers' Association (BBA) have also highlighted a rise in the number of mortgages been approved, claiming a rise to 22,000 in December, up from 17,000 in November.
The association has suggested that this rise does not mean there has been a real recovery in lending but rather reflects delayed activity from November.
“This could be the start of a slowing of house price deflation. Usually mortgage lending does not increase during December. It will be interesting to see the figures for January”
