Mort­gage lend­ing down year-on-year

Yorkshire Post - Property - - PROPERTY -

LOANS for house pur­chase in­creased in April, but were down year on year.

There were 40,900 house pur­chase loans, up eight per cent from 37,900 in March, but two per cent lower than in April 2010. Re­mort­gages fell sharply month on month.

There were 24,700 re­mort­gage loans in April, down 28 per cent on March but up one per cent on April 2010.

The lat­est re­port from the Coun­cil of Mort­gage Len­ders also says that there could be a “lull” in house pur­chase com­ple­tions in the next few months.

The num­ber of loans to first-time buy­ers in­creased by eight per cent in April, but the num­ber of loans to first-time buy­ers rose by just one per cent year on year.

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