House Purchase Lending 8% Up On A Year Ago

On an unadjusted basis, in May:

·         Home-owners borrowed £9.4bn for house purchase, up 15% month-on-month and 8% year-on-year. They took out 53,800 loans, up 13% on April and 5% on May 2015.

·         First-time buyers borrowed £4.3bn, up 10% on April and 23% on May last year. This equated to 27,500 loans, up 9% month-on-month and 16% year-on-year. 

·         Home movers borrowed £5.1bn, up 19% on April but down 2% compared to a year ago. This represented 26,300 loans, up 18% month-on-month but down 5% on May 2015.

·         Remortgage activity totalled £5.2bn, down 15% on April but up 30% compared to a year ago. This came to 30,900 loans, down 12% month-on-month but up 25% compared to a year ago.

·         Landlords borrowed £2.6bn, up 4% month-on-month but down 4% year-on-year. This came to 16,600 loans in total, up 3% compared to April but down 8% compared to May 2015.

Read more on the Council of Mortgage Lenders website.