Both first-time buyer numbers and house purchases by landlords fell in March, compared to the same month last year, according to UK Finance.
There were 28,800 first-time buyer mortgages completed in March 2019, 2.4 per cent fewer than in the same month in 2018. The drop is the first year-on-year decrease since September 2018.
UK Finance’s Mortgage Trends Update for March 2019 also showed there were 25,280 homemover mortgages completed in March, 6 per cent fewer year-on-year.
There were 16,810 remortgages with additional borrowing in March 2019, 9.1 per cent more than in the same month in 2018. For these remortgages, the average amount taken out in March was £55,700.