Home Buying Activity Up 7% In February

On a non-seasonally adjusted basis, lending in February:

·         Home buyers borrowed £8.9bn, up 6% on January and 2% on February 2016.

·         First-time buyers borrowed £3.8bn for home-owner house purchase, up 6% on January and 12% on February 2016.

·         Home movers borrowed £5.1bn, up 6% on January but down 4% year-on-year. This equated to 24,400 loans, up 6% month-on-month but down 6% compared to February 2016. 

·         Home-owner remortgage activity was down 26% by value and 23% by volume on January. Compared to February 2016, remortgage lending was up 8% by value and 9% by volume.

·         Gross buy-to-let saw month-on-month decreases, down 13% by value and 12% by volume. Compared to February 2016, the number of loans decreased 26% and the amount borrowed decreased by 13%.   

Read more on the CML website.