The number of mortgages which were approved in October was up on the previous month, according to statistics from the British Bankers’ Association.

Although only rising by a total of 165 from September, last month’s figure of 42,238 is almost double what it was a year ago in October 2008.

The value of loans for house purchases has risen by 11 per cent over the course of 2009, now standing at £142,000, the Guardian reports.

A recovery in the housing market is crucial before confidence can return to the financial services sector. For those seeking places on finance graduate schemes, a boost in the housing market will thus come as good news.

In the current climate, possessing professional qualifications can make the difference between getting hired and remaining unemployed.

Earlier this month, the Financial Services Authority was accused of treating lenders like "drug-dealers at the school gates". The comments were made by Matthew Wyles, head of the the Council of Mortgage Lenders.

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