Buy-to-let sales rose by 40.3% (£1.2bn) from the month before and residential sales were up 38.6% (£3.5bn).
February mortgage sales rocketed by 39% on January to total £16.6bn, Equifax Touchstone research has found.
Buy-to-let sales rose by 40.3% (£1.2bn) from the month before and residential sales were up 38.6% (£3.5bn).
Mortgage sales growth was fiercest in London (50.6%), followed by Scotland (44.5%), the North West (43.1%) and Northern Ireland (40.2%).
Iain Hill, relationship manager, Equifax Touchstone, said: “With the impending changes in stamp duty on buy-to-let property, we expected buy-to-let sales to jump in February.
“However, the residential figures have taken many market participants by surprise, also rising sharply and resulting in the highest month for mortgage sales since the 2008 market crash.
“We expect sales volumes to remain strong in March, and it will be interesting to see if the market can cope with the inevitable pressures that come with the increased demand.”
The average value of a residential mortgage in February was £192,568 and £157,491 for buy-to-let.
