Summer Mortgage Lending Picks Up
Summer Mortgage Lending Picks Up
House purchase loans rose substantially in June, up 22% on the previous month, according to the Council of Mortgage Lenders (CML).
However, the overall figure of 61,000 house purchase loans was down 1% on June last year.
Mortgage lending to home movers increased by 21.1% on the month, but just 0.3% on the year.
Loans to first time buyers also rose by 22% on a monthly basis, but were down 2.4% annually.
Contrastingly, remortgaging figures were up 31% in June and rose 34% over the year. Buy-to-let loans also rose 40% on the year and 17% monthly.
In total, in the second quarter (Q2) of this year, there were 160,100 house purchase loans, up 21.6% on Q1, but 7.7% down on Q2 2014.