The total number of home-owner loans for house purchase in January 2014 was down 16% compared to December 2013 but up 30% on January 2013, according to the CML.
The usual seasonal dip saw the number of first-time buyers and home movers fall in January compared to December 2013 but both increased substantially in comparison to a year previous in January 2013.
Remortgage lending in January was up 10% in volume compared to December and also up 16% compared to January 2013.
Buy-to-let lending for house purchase increased 11% in January in volume compared to December 2013. Buy-to-let remortgage lending also increased 6% compared to December.
The Bank of England reported earlier this month that UK gross mortgage lending was £16.1 billion in January, which due to the expected seasonal dip was down slightly by 4% compared to December 2013 but up 39% compared to January 2013.
Paul Smee, director general of the CML, said: “January is always a subdued month in the mortgage market but the underlying trend and strong year-on-year growth across all borrower groups indicates a strong start to 2014 continuing the sort of lending levels seen throughout 2013.
“Lending to first-time buyers and home movers has continued its upward trend and this, coupled with the growth in remortgage and buy-to-let activity, would suggest that all parts of the market are open for business.”
