Aug
11

Loans to UK homebuyers rise 23%

The UK housing market showed further signs of stabilising during June with a 23 per cent jump in the number of mortgages taken out by people buying a home, figures revealed today.

Around 45,000 mortgages were advanced for house purchase during the month, the fifth consecutive monthly increase and the highest level for a year, the Council of Mortgage Lenders said.

There was also a steep rise in the number of first-time buyers getting on to the property ladder, with 17,200 mortgages taken out by people buying their first home, 26 per cent more than during May.

The RICS survey showed a continuing rise in interest from potential buyers, with new inquiries increasing for the ninth month in a row during July.

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