It was an encouraging month for the mortgage and property markets, with house prices growing slightly, an increase in mortgage lending and greater product choice for homeowners.
Falling swap rates caused mortgage rates to drop substantially during August, with many homeowners capitalising by taking out longer-term fixed rate deals.
Competition in the mortgage market remains strong, with mortgage rates falling since the turn of the year.
The Bank of Mum and Dad is becoming ever more important, with an increasing number of buyers turning to their parents to help them onto the housing ladder.
The number of first-time buyers taking out mortgages fell for the first time since September 2018 but the remortgage market has remained buoyant.
Homeowners looked to remortgage to a cheaper interest rate, while activity in the property market was once again sluggish.
Lenders are becoming increasingly happy for customers to take out long-term loans, with a sharp rise in the number of 40-year products on the market.
The number of first-time buyers achieving their dream of home ownership reached a 12-year high in 2018, according to industry data published by UK Finance.
First-time buyers flocked to take out mortgages in November 2018, although remortgage customers remain the main driver in the market.