Scot­land house pur­chase lend­ing up 7% in the first quar­ter of 2016

The Oban Times - - Property/Feature -

On an un­ad­justed ba­sis, lend­ing in the fi rst quar­ter: • Home- own­ers bor­rowed £1.8bn for house pur­chase, down 22% quar­teron- quar­ter but up 1% year- on-year. They took out 13,500 loans, down 22% on the pre­vi­ous quar­ter but up 7% com­pared to the first quar­ter in 2015. • First- time buy­ers bor­rowed £660m, down 24% on the fourth quar­ter 2015 but up 10% on the first quar­ter last year. This to­talled 6,200 loans, down 23% quar­ter- on- quar­ter but up 11% year- on-year. • Home movers bor­rowed £1.1bn, down 21% quar­ter- on- quar­ter and down 4% com­pared to a year ago. This to­talled 7,300 loans, down 22% quar­ter- on­quar­ter but up 4% on quar­ter one in 2015. • Re­mort­gage ac­tiv­ity to­talled £780m, down 1% on the fourth quar­ter of 2015 but up 13% com­pared to a year ago. This came to 6,400 loans, down 5% quar­ter- on- quar­ter but 5% up com­pared to a year ago. Carol An­der­son, CML Scot­land chair, com­mented: ‘ Sea­sonal fac­tors of­ten af­fect lend­ing lev­els in the first quar­ter of the year but there are en­cour­ag­ing in­di­ca­tors in Scot­land, as all lend­ing types showed growth year- on- year. 2016 saw the strong­est first quar­ter in a year for house pur­chase lend­ing since 2008 and, with af­ford­abil­ity con­di­tions con­tin­u­ing to be favourable, we would ex­pect grad­ual year- on- year growth in Scot­land to con­tinue through­out 2016.’

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