Mortgage approvals for house purchases were stronger than expected according to new figures from the Bank Of England.

The Bank of England said that mortgage approvals held steady at 115,000 in July after an upwardly revised June figure, beating predictions from some analysts of a fall to 110,000.

Mortgage lending came in broadly in line with expectations, rising £9.192 billion in July compared with a downwardly revised rise of 9.340 billion in June.

Growth in consumer credit picked up for a third straight month, rising £1.095 billion in July. That was the strongest reading since November last year and above forecasts for an increase of £0.875 billion.