The Council of Mortgage Lenders (CML) has reported that in April, home buyers borrowed £9.6bn, down 14% on March but up 19% on April 2016.
This came to 51,200 loans, down 16% on March but up 9% on April 2016.
First-time buyers borrowed £4.1bn, down 16% on March but up 8% on April 2016. They took out 25,400 loans, down 18% month-on-month but up 2% year-on-year.
Meanwhile, home movers borrowed £5.5bn, down 11% on March but up 28% year-on-year. This equated to 25,700 loans, down 15% month-on-month but up 17% compared to April 2016.
Home-owner remortgage activity was down 16% by value and 18% by volume on March. Compared to a year ago, remortgage lending was down 15% by value and 16% by volume.
Gross buy-to-let saw month-on-month decreases, down 17% by value and 16% by volume. Compared to April 2016, the number of loans increased 1% and the amount borrowed remained unchanged.
