UK borrowing up 16pc

The number of loans taken out in the UK recorded an encouraging improvement in April 2009. However, activity is still very low by historical standards.

The Council of Mortgage Lenders said overnight the number of home loans taken out in April 2009 increased by 16% to 35,600.

This was 28% down from April 2008 and 60% lower than the seven year average of 88,000 loans written in April.