Lending for house purchase picked up dramatically in June, rising 22% over May’s figure.
Nevertheless the overall figure of 61,000 house purchase loans was down 1% compared with June last year.
Mortgage lending to home movers was up 21.1% on a monthly basis but only 0.3% on an annual basis; loans to first-time buyers rose 22% on the month, but were down 2.4% compared with a year ago.
In contrast, remortgaging shot up 31% on the month and 34% on the year while buy-to-let loans for house purchase were up 40% on the year, and 17% on the month.
Altogether in the second quarter of this year, there were 160,100 house purchase loans, up 21.6% from the first quarter, but lagging 7.7% behind the second quarter last year.
The figures are from the Council of Mortgage Lenders.
Every General Election I’ve worked we always see the market suffer from subdued activity three months prior and three months post the result, this should not be a surprise to seasoned Estate Agents.
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