Official figures shared by the British Bankers' Association have revealed that mortgage approvals across the UK have continued to rise over time, signifying a steady and sure improvement across the country's housing sector.

The pace of the growth, however, has managed to slow down a bit, and rising unemployment could further affect the demand over the coming years.

As per the figures shared, for the month of November, the number of mortgages approved hiked to 44, 713, a substantial rise from the figure of 42,552 recorded for October, and over two times the level seen during the height of the credit crisis last year.

Net mortgage lending also surged to 3.3 Billion Pounds, in contrast to the average of 2.7 Billion Pounds over the previous 6 months.

Also, the BBA shared that the customers are now paying back their debts with increasing ease.

"Demand for new personal loans was weak and people are paying off debt or building savings in response to economic circumstances", said BBA Statistics Director David Dooks.