U.K. gross mortgage lending increased 5 percent in April, partly due to growth in remortgage activity, data released by the Council of Mortgage Lenders showed Thursday.
A total of GBP 3.4 billion was advanced to borrowers remortgaging in April, up by 10 percent compared to March.
The council said first-time buyers took out 19,400 loans in April, which was down by 1 percent compared to March.
Although year-on-year comparisons are distorted by the impact of the end of the stamp duty concession on lending in March and April last year, the CML said the activity in the first four months of the year was 11 percent stronger than the same period last year.
First-time buyers typically borrowed a slightly larger amount in April than in March, data showed.
"The Help to Buy scheme announced in this year's Budget should provide a further boost to the first-time buyer and home mover markets, but we still await further details on how the initiatives will work," CML director general Paul Smee said.
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