Increase in new mortgage lending
Published Date:
26 June 2008
By Staff Copy
MORTGAGE lending showed an increase in April, according to the Council of Mortgage Lenders.
Some 50,700 loans to purchase homes were granted in April – a rise of 5,000 from the previous month and the highest level since December.
An average first-time buyer put down a deposit of 13 per cent of a property's value and borrowed 3.3 times their income.
Figures published last Thursday by the Council of Mortgage Lenders showed that fixed-rate deals had become more popular than a couple of months ago.
In April, they accounted for 59 per cent of all new loans – the highest level seen this year.
And those people who want to borrow 75 per cent or less of their property's value – and who are viewed as a much smaller risk to a lender - have, in some cases, seen the cost of new loans fall.
The full article contains 151 words and appears in Lytham St Annes Express newspaper.
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Last Updated:
25 June 2008 7:19 AM
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Source:
Lytham St Annes Express
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Location:
Blackpool
