Mortgage lending within the UK housing market has been a bit temperamental through the first quarter of year 2017. First time buyers are still finding it difficult to purchase a home due to high cost. A condition faced by many due to the high rate of house price growth over the last several years. Final figures from the month of March painted a picture of certain optimism, according to many close the housing market.

Home buyer lending surged almost 30% during the month. Even first time home buyer activity was strong. Remortgage activity was also a bright spot as many house owners found a better deal from the number of choices which still remain on the table.

Remortgage activity had slowed a bit during the month of February, but quickly bounced back. It is maintaining its popularity due to the number of deals which are still available from well-known lenders.

Home buyer lending was strong in the month, totaling almost 62,000. This is an increase of almost 30% in month on month comparison, according to data from the Council of Mortgage Lenders.

First time buyer mortgage lending increased a solid 30% month on month, according to figures from the CML.

Paul Smee of the CML commented on the figures from the month concluding the first quarter of the year, saying: “Comparing this March to last year is misleading because of the peak in activity before the stamp duty changes last spring.

“Overall, lending trends have remained reasonably consistent. The relatively sluggish activity among home-movers stands in contrast to the growth in first-time buyer and remortgage activity, but in aggregate the market is showing broadly the levels of activity we expected.”

Smee added: “As we head into the summer, we expect a continuation of these trends, with both first-time buyer and remortgage lending expected to maintain momentum in the light of the very attractive deals currently available.”