16 May

Lending boost for houses for sale in Bury St Edmunds?

Lending boost for houses for sale in Bury St Edmunds?

Buyers viewing property for sale in Bury St Edmunds may benefit from an upward trend in mortgage lending.

The number of mortgages approved for house purchases in March increased by 24 per cent compared to February, the Council of Mortgage Lenders (CML) has revealed.

In addition, the value of home loans approved for houses for sale in Bury St Edmunds and across the UK rose by 26 per cent to £5.4 billion.

First-time buyers accounted for 14,600 mortgages in March, an increase of 38 per cent compared to the previous month.

Positive lending figures may boost people considering property for sale in Bury St Edmunds to take the plunge and visit their local estate agent.

The Suffolk market town is a haven for history lovers and also offers numerous independent shops for unique local goods.

However, the positive figures may have been influenced by a busy spring period.

Michael Coogan, director general of the CML, added that activity over the bank holiday and royal wedding weekends may distort housing market statistics.

He explained: "It may take until publication of the second quarter's activity to get a full understanding of how the market has reacted to the squeeze on household incomes."ADNFCR-1222-ID-800535326-ADNFCR

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