With mortgage approvals and lending both up on their six monthly averages, it is clear that the mortgage market got off to a blistering start in 2016.
Bank of England statistics show that lending secured on houses increased by £3.7bn in January, compared with the average monthly increase of £3.4bn over the previous six months.
Meanwhile the number of loan approvals for house purchase was 74,581, compared with a six-monthly average of 70,221.
According to the statistics, January 2016 saw the highest number of total monthly approvals since the same month in 2014. Remortgaging did particularly well, with the number of loan approvals increasing by 33 per cent year-on-year and the value of remortgaging up by 45 per cent over the previous year.
Furthermore, approvals for house purchases grew by 22 per cent.