MORTGAGE lending soared to one of the highest figures on record last month as people switched their home loans to better deals.

Total advances rose by nine per cent during the month to £27.5bn - the highest figure since July last year, according to the Council of Mortgage Lenders.

Within this there was a 15 per cent jump in people remortgaging, with £11.7bn lent to those who were changing provider, a level not seen since October 2003.