The number of mortgages granted to house buyers in the UK reached the highest level for just under two years in October, according to data released by the Council of Mortgage Lenders (CML).

The CML have reported that 55,300 mortgages were granted to buyers in October. This is an increase of 9% from September and up 43% from October last year.

"It appears that low interest rates for those with substantial deposits, coupled with this year's sustained increases in house prices, are encouraging more people to buy or move home," said Michael Coogan, CML director general.