15% increase in first-time buyer loans

19th January 2018

November saw a 15.2% annual rise in the number of new first-time buyer mortgages, new figures from UK Finance show, with 34,800 new first-time buyer loans. Lending to home movers rose 16.8%, with 36,200 new mortgages, and remortgaging also increased, with an 8.5% climb recorded. Across all mortgages, lenders approved 13% more loans in November than at the same time last year. Paul Smee, head of mortgages at UK Finance, said the data shows housing market activity “remains buoyant” despite the Bank of England’s decision to raise the base rate to 0.5%.

Daily Mail (16/01/2018)