Lending to Welsh and Scottish first-time buyers has reached levels last seen before the financial crisis.
Meanwhile, lending volumes to London and Northern Irish first-time buyers were up a third and 23% respectively on the same period of 2012.
CML director general Paul Smee said: “The increase in lending for house purchase in London seems broadly consistent with UK-wide upward trends.”
Banks and building societies advanced 2,900 loans to Welsh first-time buyers in Q3 – the highest quarterly lending levels since 2007. Lending volumes were also 11.5% higher than Q2 and a third higher than the 2,200 advanced in the same period of 2012. The value of first-time buyer loans totalled £290m – 38% higher than the same time last year.
In the third quarter of 2013, 6,600 loans were advanced to first-time buyers in Scotland for house purchase, which is the largest single quarter since mid-2008.
In total, lenders advanced £670m to first-time buyers in Scotland in the third quarter, a 46% increase on the same time last year.
In London, 13,100 loans were advanced to first-time buyers in the third quarter of 2013, an increase of 24% on the previous quarter and a third higher than the same time last year. The value of loans to first-time buyers totalled £2.96bn.
A total of 2,800 loans worth £240m were advanced to home owners for house purchase in Northern Ireland in the third quarter of 2013. This represented an increase of 22% both on the previous quarter and the same time last year.
Loans to Northern Irish first-time buyers had a total value of £120m, compared to £110m in the second quarter.
