Mortgage lending picking up

13th November 2015

Lending to first-time buyers and home movers increased in the third quarter of the year compared with the previous three months, the Council of Mortgage Lenders has said. The CML said that gross mortgage lending totalled £61.4bn in the third quarter of the year, up 18% on the previous quarter and a 12% rise on the third quarter of 2014. Overall in the third quarter, the value of homeowner loans for house purchases accounted for 57% of gross lending, remortgaging activity was noted to be 24% of lending and buy-to-let accounted for 18%. The number of buy-to-let mortgages rose to its highest level in more than seven years in the summer. The figures showed that 11,300 buy-to-let loans worth a combined £1.5bn were advanced in September, an increase of more than a third on the same month in 2014.

Financial Times (10/11/2015)