Mort­gage lend­ing rose in Fe­bru­ary

Yorkshire Post - Property - - PROPERTY -

THE Coun­cil of Mort­gage Len­ders re­ports a small monthly rise in lend­ing for house pur­chase in Fe­bru­ary.

But the num­bers are still down year on year. There were 32,300 house pur­chase loans, up eight per cent from Jan­uary but 12 per cent down on Fe­bru­ary 2010. Of these, 12,400 loans were to first-time buy­ers, a rise of 13 per cent from Jan­uary, but still down 11 per cent on Fe­bru­ary 2010’s fig­ures. There were 19,900 loans to home-movers, up six per cent from Jan­uary but 12 per cent down over the year. First-time buy­ers in Fe­bru­ary typ­i­cally bor­rowed 80 per cent of the prop­erty’s value. Rais­ing a large de­posit re­mains a ma­jor bar­rier for first timers.

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