Research published by Property Industry Eye reports that mortgage lending for house
buying purposes was up 11% in August on the same month last year ? despite a drop of almost 40% in buy-to-let borrowing for house purchase.
First time buyers borrowed ?5.1bn, up 13% on July and 24% on August last year. This equated to 31,800 loans, up 12% month on month and 19% year on year.
Home movers borrowed ?7.1bn, up 15% on July and 3% compared to a year ago. This represented 34,200 loans, up 14% month on month and 2% on August 2015.
Re-mortgaging by both owner-occupiers and buy-to-let borrowers was strong, said the Council of Mortgage Lenders.
|1 month change||+12.4%||+14.0%||+8.3%||+4.2%||+4.1%|
|12 month change||+19.1%||+1.5%||-38.7%||+39.6%||+11.3%|