With gross mortgage lending in June up 2% on the previous month, and 26% higher than June 2012, representing a total of £14.7bn, the highest level of lending since October 2008 according the Council of Mortgage Lenders (CML), the UK housing market is witnessing a “meaningful recovery”. However, according to the same statistics, lenders are now saying activity among first-time buyers remains well below the boom years.

This may well be the case, but one local solicitors’ conveyancing division is reporting an increase in the number of buyers going through the house purchase process for the first time and this trend is definitely growing. Kelly Roberts, conveyancing associate at Headleys Solicitors, operating out of the practice’s Hinckley office, reports that things have improved for the first-time buyers she has been in contact with since the beginning of the year.

“We definitely felt a boost in confidence from the beginning of 2013,” said Kelly, “and I think one of the only reasons the activity being reported is comparatively low is because there are less first time buyer type properties on the market at present. But this is also changing, a surge in building is helping, with first time buyers now able to reserve properties off plan and with new development planned for this area in particular, it’s a trend we can see continuing.”

The pick-up in mortgage lending has been in evidence during the spring and summer months. Gross lending for the second quarter of the year reached an estimated £42bn, the CML said. This was up 24% on the previous three months, and the highest level since the end of 2008.

Based at the practice’s Lutterworth office, property lawyer Jenny Reynolds is also experiencing an upturn and here it is mainly in the mid-range property sector.

“Similar to the Hinckley area we have a number of new housing developments coming on stream, and this will help bring more choice to the market place, freeing up second hand properties for sale and giving everything a push. It is definitely the busiest we have been for some time,” said Jenny.

“Improvements in the cost and availability of mortgages are definitely helping to underpin recovery and although this will be a long, slow recovery we are hopeful that current positive trends are set to continue for the immediate future, providing sustainable growth going forward.”

Headleys Solicitors has specialised in property law and conveyancing since it was established in 1928. For further information please contact: enquiries@headleys.com