The Council of Mortgage Lenders (CML) has recently released its latest statistics on lending.
Some key figures to note in relation to lending in March are:
- Home-owners borrowed £13.8bn for house purchase in March 2016, up 59% month-on-month and 60% year-on-year.
- First-time buyers borrowed £4.5bn in March 2016, up 32% on February and up 29% compared to March 2015.
- Home movers borrowed £9.3bn, up 60% month-on-month and up 58% compared to March 2015.
- Re-mortgage activity totalled £4.7bn, down 2% month-on-month but up 0.4% compared to March 2015.
- Landlords borrowed £7.1bn, up 88% compared to February and up 142% compared to March 2015.
The CML has also published its latest statistics on gross mortgage lending. It estimates that gross mortgage lending reached £18.5 billion in April 2016, making this the highest lending total for an April since 2008 (£25.3 billion).