
This figure marks a continuation of a trend seen during the last six months, with the number of house purchase loan approvals, along with their average value, increasing steadily.
However, the BBA indicated that the mortgage market as a whole was still struggling, with net new lending standing at £2.3bn for May, the weakest monthly increase since early 2001.
Net new lending stood at £2.5bn in April.
"Steady monthly increases since last November have seen the number of loans approved for house purchase recover to levels seen in early 2008, although gross and net mortgage lending show a subdued wider mortgage picture," said BBA statistics director, David Dooks.
"However, unlike much of the mortgage market, the high street banks are still seeing lending growth and improved mortgage availability is reflected in higher average loan approval values."
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