According to the news yesterday, Novembers UK mortgage market has risen to record highs, with the market increasing at such a disturbing pace it is likely to cause upset at Bank of England.

Despite many subtle reminders that the house buyer should be careful and not over stretch themselves, these warnings appear to be going unnoticed. Should Bank of England step up and get tough?

The does not seem to be a solution aside from a reality check to keep the housing market in line. Desires to climb the property ladder in addition to the want for short to medium term capital growth appears to be the home buyers top priority.

Seeing a decline in sight experienced investors are slowing down yet desperation drives some to jump the rungs of the property ladder?

History will show that the time to consider disposing of an asset is when all around you are buying – "irrational exuberance" as the Chancellor famously described it. Many buyers have excessive mortgages and the market is finally balancing so now you will likely see a rush of homeowners to get out from under their debt.

Novembers total home purchases was 77,788 an increase from 74,997 in October which is the biggest increase since summers surge in June. There was a notable approval rise up to 11.43 billion since Octobers figure 10.82 billion this also approached Junes figure.

You can see a silver lining if you see the glimmer of hope available from the 100 million lender increase in unsecured loans up from October. Hopefully the slowdown continues but specialists are forecasting an increase in demand as well as interest over the up coming months.

The agreeably spoken application of the Bank Of England appears to be nearing breaking point, and the reckless nature of recent borrowing, which has risen to 5 times salary in some areas, is forcing their hand. The housing markets positions will be first on the financial authorities list for 2007 so affirmation can be expected.