A total of 108,857 property loans were approved in June, which is 8.3% higher than the figure recorded in May.

The value of these loans was also higher than in previous months with £16.4bn completed in the month, against the £15bn secured in May.

The number of loan approvals for house purchase was 67,196 in June, marginally down on the average of 68,240 over the previous six months. The number of approvals for remortgaging was 31,682, compared to the average of 32,786 over the previous half-year.

The number of approvals for other purposes was 9,979, again down on the average of 11,801 over the previous six months.

Brian Murphy, head of lending at Mortgage Advice Bureau, said: “We have seen approval volumes on a downwards trajectory for much of 2014 as attention has focused on phasing in the new lending rules.

“Regulators effectively pressed ‘pause’ on 18 months of gradual recovery, but the bounce-back in June suggests that mortgage market activity is now firmly on track.

“Government, regulators and the Bank of England are all impacting on buying patterns this year through Help to Buy and policy changes. Many of the usual rules have gone out of the window in terms of seasonal trends.”