By Marcus Leach

The Bank of England have said that the number of new mortgages approved, but not yet lent, for home buyers in August rose to its highest level since December 2009.

52,410 mortgages were approved last month, which is a rise of almost 3,000 from July's figures.

"Approval figures continue to look promising as consumers take advantage of the competitive mortgage rates," Adrian Coles, director-general of the Building Societies Association, said.

"However, the outlook for the economy has deteriorated over the past month as has consumer confidence, which could well spill into the housing market, causing further weakness."

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