First-time buyers took out 6,600 more loans in April than a year ago
New CML data released today on the profile of UK lending in April 2014, including first-time buyer, home mover, remortgagor and buy-to-let lending, shows:
- The number of loans to first-time buyers rose by only 1% in April compared to March, but was 37% higher than in April 2013. By value, lending to first-time buyers was up 3% on March and 52% higher than in April last year.
- The number of loans to home movers increased in April by 11%, with the value up 15% compared to March. Compared with April 2013, growth was up 30% by volume and 47% in value.
- Total number of loans for home-owner house purchase (first-time buyers and home movers) increased month-on-month by 6% and 11% by value on March, with year-on-year growth in number of loans up 33% and 47% by value.
- Total number of loans for remortgage in April was up 6% and 11% by value compared to March.
- Total number of buy-to-let loans declined slightly month-on-month down 1% in April but the value remained unchanged. Compared to April 2013, there was a 43% increase in number of loans and a 57% increase in overall value.