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UK housing market: Mortgage lending up 29% in March
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The number of mortgages taken out by people buying a home jumped
by 29% in March in a further sign of a pick-up in housing market
activity, figures showed today.
A total of 31,000 mortgages were advanced during the month for
people buying a property - up from 24,000 in February - although
the figure was still 33% lower than March last year, the Council of
Mortgage Lenders said.
There was also a steep rise in the number of people buying their
first home, with 12,500 first-time buyers taking out a mortgage
during the month, accounting for 40% of all loans, the highest
proportion since April 2005.
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