Gross UK mortgage lending for Q3 2013 was £49.3bn, which represents a 17.6% increase on the Q2 2013 figure and a 32% increase on the third quarter of last year, according to the Council of Mortgage Lenders (CML).

The total number of buy-to-let loans advanced in September 2013 increased by 0.7% compared to August, giving a total of 14,600 loans advanced in that month. Buy-to-let overall in Q3 2013 grew 16% compared to the second quarter and by 36% over the same period last year.

Paul Smee, director general of the CML, said: “The typical seasonal fall in lending in September was expected but we are seeing appreciable year-on-year and quarterly lending rises that suggests the market is continuing its recovery.

"First-time buyers were a key driver in the first half of 2013 but now home movers and remortgages are showing renewed strength which puts the market in a good position to continue momentum into the final few months of 2013 and into the new year." 

The growth in buy-to-let in Q3 2013 was driven by both buy-to-let house purchase and buy-to-let remortgaging with house purchase lending increasing to 22,790 loans advanced compared to 19,410 in Q2 2013 and a 29% increase on Q3 2012.

Buy-to-let remortgaging was up 15% on Q2 2013 and up 42% Q3 2012. The value of these loans also increased in September to £2.9bn, up 19% on Q2 2013 and up 53% in value compared to the Q3 2012.