More desparate news for house building as the evaporation of homebuyers in the UK housing market is further underlined with the release of the Bank of England figures showing mortgages approvals for house purchases in April diving to a new low.

Just 58,000 loans were approved to homebuyers, half the figure a year ago and down on the March figure of 63,000, which itself was well below the previous lowest figure recorded by the Bank in its data series going back to April 93 . And the trend appears to suggest worse to come.

Meanwhile remortgaging is buoyant as 115,000 people struggled in April to find cheaper deals to ease their growing financial burdens.