Mortgage approvals jump to highest number since 2009

The Bank of England reports that net mortgage borrowing fell from a record £11.5 billion in March to £3.3 billion in April.

UK borrowers repaid £1.4bn of mortgage debt in July; it's only the second time in a decade that the Bank of England's data has shown a net repayment.

“After the roller-coaster ride of the stamp duty holiday, activity levels in the UK housing market will feel tame by comparison in the final months of this year," says Knight Frank research chief Tom…