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Home Buyer Activity Down in April But up on a Year Ago

On a non-seasonally adjusted basis, home buyers borrowed £9.6bn in April this year, down 14% on March but up 19% on April 2016, according to the latest figures, released on the 13th of June, by the Council of Mortgage Lenders (CML).

The total number of mortgage loans issued in April was 51,200, down 16% on March but up 9% on April 2016. Within this, 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.  

Homeowner 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 mortgage lending 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.

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