CML reports September mortgage rise
Mon, 16 Nov 2009
The number of mortgages given to buyers rose for the third month in a row during September, according to the Council of Mortgage Lenders (CML).
Latest figures indicate that first-time buyers contributed to a large proportion of the new mortgages lent out.
There was a two per cent increase in the number of loans for home buying from August to September, at 50,600 - a 43 per cent rise on the same time period last year.
A contributing factor is believed to have been the temporary £175,000 nil-rate margin applied by the government.
However, the CML data also conveys the lack of available mortgages, particularly among those first-time buyers lacking parental support.
Helen Adams, managing director of FirstRungNow, said: "It is still the ones without a deposit. There aren't many first-time buyers with that kind of money.
"Lenders are still scared - they are hardly lending to first-time buyers at all, and if so; require a big deposit."
According to moneysupermarket.com, reports of continued growth in mortgage lending are "a sure sign" that the wheels of the housing market are turning again.
Posted by Alex Boardman
How Microsoft can help
The right software can help you tackle the challenges of running any organisation. Microsoft offers familiar and affordable software tools which help you and your team work more effectively together, whether you’re in or out of the office, give better customer service and run the business efficiently. Learn More
Find a Microsoft solution partner
More Professional Services Business News
View all articles
|
|
|
|
