The number of new mortgage approvals for home purchases were a seasonally adjusted 106,000 in April, down from 114,000 in March, according to the Bank of England (BOE).

The number of mortgage approvals, are up 12.8%, compared to the same time last year, but in April fell to a seven month low. Nevertheless, mortgage approvals remain above the historical average of 97,000 per month with demand conditions still firm.