The Council of mortgage Lenders (CML) said, "The number of mortgages granted rose to 52,700, 29 percent more than in August 2008."

It’s a sign the property market is stabilizing and today’s report adds to evidence that Britain is emerging from its worst recession in a generation.

The number of people remortgaging their homes declined, the CML said. Remortgage loans fell to 32,000 in August, down 57 percent from a year earlier and 22 percent from July.