Data from the Bank of England shows mortgage approval numbers have reduced confirming a slowdown in the housing market.

The Bank of England to cool home loan market by limiting the number of people borrowing four and a half times their income.

The Office of National Statistics (ONS) has released data showing London average house prices are over £500,000 for the first time.

Leading mortgage lender the Halifax has released data showing house prices have increased by the biggest annual amount since September 2007.

The Governor of the Bank of England, Mark Carney, says interest rates must rise to avoid a housing bubble developing.

Figures released from the Bank of England show the number of mortgage approvals has increased in June.

Lenders have increased the cost of fixed rate mortgages after the Bank of England signal the end of cheap borrowing.

The number of mortgage approvals have reduced in the last four months following the Mortgage Market Review and worries about interest rates.

As the demand for low deposit loans increases George Osborne gives the bank of England power to cap risky mortgage lending.

Property values in London are up by over 12% leading the UK which has seen mortgage lending 4% higher in March and 37% higher for the quarter.

The regulators are introducing tougher tests for home buyers based on affordability to prevent mistakes leading to the financial crisis.

About 95% of all mortgages are fixed rate with the threat of interest rates rising and homeowners want certainty in the future.