New mortgage lending data shows that the number of house purchase loans in October were up 17% from the month before and 24% from October last year.
Overall, 60,800 loans were advanced in October with a total in value of £9.7bn, which was an increase of 17% by value on September this year and a year-on-year monthly increase in value of 33%.
This is the second highest monthly lending amount for home-owner house purchase since November 2007, behind December 2009 when volumes that month were inflated by the impending end of the Stamp Duty holiday.
There were 26,800 loans to first-time buyers, the highest number in a month since November 2007, according to the Council of Mortgage Lenders.
Total buy-to-let loans numbered 16,200 compared with 14,600 in September.
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