Mortgage Lending For House Purchase The Highest In Years...

Date Published 13 November 2013

Mortgage lending for house purchase in the third quarter this year was the highest for any quarter since 2007.

And despite a monthly fall in September, down 14% on August, lending that month was still up 20% on September last year.

According to the Council of Mortgage Lenders, first-time buyers took out 23,600 loans in September, a 34% increase compared to September 2012.

Home movers` lending decreased by 16% to 52,800 loans, but was up 18% compared to last year. Third quarter lending for home movers was up 21% on the second quarter.

Total buy-to-let loans advanced increased slightly to 14,600 loans in September, up 0.7% on August.

Overall buy-to-let lending in the third quarter of 2013 grew, with 43,900 loans advanced – which was 16% up on the second quarter of 2012 and 36% up compared to last year.

Out of the 43,900 figure, 22,790 loans were for buy-to-let purchases.