There were 311,700 mortgages issued to first-time buyers last year. While the figure was the same as 2014, the amount borrowed – £46.7bn – was the highest since 2007.
Home movers took out 365,800 loans for house purchase, down fractionally (0.2%) on 2014. Again, though, the amount, at £72.1bn, was the highest since 2007.
Buy-to-let lending rose by both volume (up by 28%) and by value (up 39%), and that too was at its highest since 2007.
Despite the rise in buy-to-let lending, last year first-time buyers outnumbered buy-to-let purchasers with mortgages by three to one.
Only 41% of buy-to-let mortgages were for house purchase, a total of £15.6bn. The bulk of buy-to-let lending was in the form of re-mortgaging – something which buy-to-let borrowers constantly do as they seek out better deals.
Separately, the Office for National Statistics has said that average house prices ended last year at £301,000 in England, £175,000 in Wales, £193,000 in Scotland and £148,000 in Northern Ireland.
The highest average house price in England was in London at £536,000, and the lowest was in the north-east at £155,000.
The ONS puts annual house price inflation last year at 7.3% in England, 1.0% in Wales, -0.2% in Scotland and 1.5% in Northern Ireland.
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