Last updated on August 18th, 2015 at 02:56 pm

In the third quarter of 2013 170,700 house purchase loans, worth £27.1bn, were advanced.  Although lending decreased by 14% in September 2013 over August 2013; total lending in the third quarter of 2013 was up by 21% year on year, and was the highest recorded since 2007.

First time buyers played a big part in the increase, taking out 23,600 loans, worth £3.3bn, in September 2013; 32% more than September 2012.  Total first time buyer lending also increased in the third quarter of 2013 by 16% over the second quarter 2013 and 34% over the third quarter in 2012.

Existing home owners also showed more confidence in the market with re-mortgage lending of £4.7bn; up 20% in September 2013 compared to August 2013 and an increase of 11% in the third quarter 2013 compared to the same period in 2012.

Buy-to-let loans were up very slightly by 0.7% in September 2013 compared to August 2013 and showed growth of 36% in the third quarter 2013 compared to the third quarter 2012.

Gross mortgage lending in the third quarter of 2013 equated to £49.3 billion; an increase of 17.6% over the second quarter 2013 and 32% up on the third quarter 2012.  September 2013’s gross mortgage lending of £16.2 billion was 41% higher than September 2012.

Paul Smee, the director general of CML, said that the increases show “appreciable year on year and quarterly lending rises that suggests the market is continuing its recovery”.

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