By Jonathan Davies

Mortgage lending in September was 7% higher than in the same month last year, according to the British Bankers Association (BBA).

The BBA said buyers borrowed £10.6bn in September, down slightly on the £11bn borrowed in August.

It adds to the already complicated picture of the UK's housing market. Data from some organisations suggest the housing market is slowing down, while others believe prices will continue to rise for some time.

The figures released by the BBA add to the side of the argument that suggests the housing market is not slowing down at any significant rate.

Having said that, the BBA also said that house purchase approvals were down 10% from the same period last year.

Richard Sexton, director of e.surv chartered surveyors, said: “The changes introduced in the Mortgage Market Review took a few months to settle down. But looking ahead, the road looks steady. We are still a way off where we should be, but there are reasons to be optimistic."

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