The number of first-time homebuyers has risen to the highest level in five and a half years, porviding further evidence of a recovery in the housing market.
According to the Council of Mortgage Lenders (CML), 25,100 loans worth £3.4bn were advanced to people taking their first step on the property ladder during May.
The figure is up 42% on the same time last year, and is the highest volume since November 2007.
It was a marked contrast to the low point of the global financial crisis when just 8,500 loans were given, in January 2009.
The overall £8.4bn of lending for house purchases accounted for 57% of all mortgage lending in May, by value.
Meanwhile remortgaging of £4bn accounted for 27% of all lending.
Other lending, including lifetime, buy-to-let and further advances, amounted to £2.3bn - or 16% of the total.
Paul Smee, director general of the Council of Mortgage Lenders, said: "Although monthly lending is still running at far less than half its typical monthly level during the peak, there is no doubt that the mortgage market is firmly open for business.
"Both the borrowing appetite of first-time buyers, and the availability of attractive mortgages for them, have improved markedly since a year ago.
"What is interesting is that, in contrast to some recent assertions, this is happening in parallel with the strengthening buy-to-let market."
Mr Smee added: "It is perfectly possible for both the buy-to-let market and the first-time buyer market to improve at the same time, as the evidence clearly demonstrates.
"It is important that the supply of housing steps up, as increased housing supply is a crucial factor in ensuring that housing is affordable over the long term."
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