November saw a 15.2% annual rise in the number of new first-time buyer mortgages, new figures from UK Finance show, with 34,800 new first-time buyer loans.

Lending to home movers rose 16.8%, with 36,200 new mortgages, and remortgaging also increased, with an 8.5% climb recorded. Across all mortgages, lenders approved 13% more loans in November than at the same time last year.

A mortgage specialist, said the data shows housing market activity “remains buoyant” despite the Bank of England’s decision to raise the base rate to 0.5%.