House purchase lending increased by 45% year on year in March, making it the ninth consecutive month of year-on-year growth, according to figures released today by the Council of Mortgage Lenders. Remortgaging, however, was 29% down year on year, the 23rd consecutive annual fall. This plainly shows the continuing trend of recovering house purchase activity but a moribund remortgage market.
The 45,000 loans for house purchase in March (worth £6.3 billion), were up 25% in volume (24% in value) from February and the 28,000 loans for remortgage (worth £3.5 billion) were up 23% in volume (21% in value).
Read the whole article here.
Article by the Council of Mortgage Lenders.
Data sourced from the CML/BankSearch Regulated Mortgage Survey.