Mortgage lenders in the UK are reporting that business has surged to its strongest levels since 2008 as a "meaningful recovery" in the housing market continues.

Banks and building societies have reported their best month for mortgage lending since 2008, in a further sign that the housing market is recovering.

Mortgage lending in the UK reached an 11-month high in October, providing evidence that the housing market is finally picking up after a lull in recent months, lenders said today.

Mortgage lending in the UK was 10% higher than a year ago during January as first-time buyers rushed to complete deals before the end of a stamp duty amnesty.

House prices dived by 2.7% during August as the number of first-time buyers getting on to the property ladder slumped to a record low, figures showed today.