March sees a surge in first time buyer activity

16 May 2013

The Council of Mortgage Lenders (CML) has reported a surge in first time buyer activity during March. Their findings revealed that it increased by 20% during March 2013. This is lower is comparison to March last year, however this is partly due to the end of the Stamp Duty holiday which concluded in March 2012 and resulted in distorted figures.   
March saw 19,100 loans advanced to buyers looking to take their first steps onto the property ladder. Houseladder.co.uk reports that these are collectively worth around £2.4 billion.
Paul Smee, Director General of the CML, said: "More borrowers are taking out higher loan-to-value mortgages than any other time in the last four years - a sign that lenders are open for business."

The Council of Mortgage Lenders (CML) has reported a surge in first time buyer activity during March. Their findings revealed that it increased by 20% during March 2013. This is lower is comparison to March last year, however this is partly due to the end of the Stamp Duty holiday which concluded in March 2012 and resulted in distorted figures.   

March saw 19,100 loans advanced to buyers looking to take their first steps onto the property ladder. Houseladder.co.uk reports that these are collectively worth around £2.4 billion.

Paul Smee, Director General of the CML, said: "More borrowers are taking out higher loan-to-value mortgages than any other time in the last four years - a sign that lenders are open for business."

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