Better lending conditions

Director General of the Council of Mortgage Lenders (CML), Paul Smee commented on that there is greater mortgage finance available in the market at present, stating this should allow "more borrowers to take the step into homeownership or move house in line with their needs".

The comments were made in relation to new CML figures that show 15,900 loans were advanced to first time buyers in January 2013.

Whilst this demonstrates an 18% reduction on the 19,500 recorded in December 2012, it marks a 24% increase on the 12,800 loans approved in January 2012.

The number of new loans granted to first time buyers in January 2012 was the highest recorded since January 2008 when 17,700 deals were approved.

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Written by Robert Liversidge

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