The number of mortgage approvals in the UK saw a "significant" rise in April 2015, according to the latest BBA high street statistics.House purchase approvals were higher than last month and 3 per cent higher than in April 2014. Deposits with high street banks also strengthened in April as the annual opportunity to invest in NISAs opened and attracted more funds than the same month a year ago. Unsecured borrowing is growing at its highest annual rate, of 4.9 per cent, since autumn 2010, reflecting strong consumer confidence.Net borrowing by businesses has been positive in three of the last four months too, with increased lending across several industry sectors.Richard Woolhouse, Chief Economist at the BBA, says: "British businesses and consumers have started to put their foot on the gas. There appears to be broad confidence about the economy, which the banks are supporting through affordable credit, leading to rises in borrowing across the board."Business lending has risen in three of the first four months this year indicating that we might have reached a turning point. There was a significant pre-election jump in mortgage approvals which we would expect to continue in the coming months."Adrian Gill, director of Your Move and Reeds Rains estate agents, adds: "The resilience of the mortgage market has broken through the cloud cover, and lending is thriving again. Importantly, this growth is also shining down on first-time buyers, as demand for borrowing at the bottom of the market weathered the approaching General Election storms. Smaller up-front stamp duty costs, and rock-bottom mortgage rates kept borrowing moving, and the road ahead looks clear for an even busier summer." "But as house prices continue to climb, buyers are playing a constant game of catch-up – with sluggish saving rates and stagnant salaries still holding back many households from owning their own home."

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