First-timers borrow £3.6bn in January

17th March 2017

Data from the CML shows first-time buyers borrowed £3.6bn for home purchases in January, down 29% on December, but up 9% on a year ago. First-timers took out a total of 22,600 loans in the month - a 29% month-on-month dip but up 7% year-on-year. The average sum borrowed in January was £132,400, marking a fall from December’s typical loan of £136,000. Buy-to-let loans were down 16% on a year ago but up 9% on December. The number of loans taken out by movers in January fell to 23,000, down 7% year-on-year and 27% month-on-month.

Financial Times (14/03/2017)