The Council of Mortgage Lenders reported increases in July for the Gross UK Mortgage Lending, up to £16.7 billion – 12% increase from June and 29% since last July.
Key Figures show:
- Buy to let loan totals were up 12% compared to June at 15,200
- Within this, 7,600 buy-to-let loans in July were for house purchase, up by 7% compared to June.
- Home owner purchase lending continuing to grow, up 9% from June and 21% from July 2012.
- First time buyers loans up by 5% from June and 41% compared to July last year.
- Home owner remortgaging continued to pick up over the year, however this remains subdued compared to historical volumes.
- On the flip side the buy to let remortgage lending grew , increasing by 24% compared to June to £1.1bn.