This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
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.
