3 May

Lending stronger in March

Lending stronger in March

Mortgage lending was stronger in the three months up until March, as those who were looking for property purchases were afforded better conditions by mortgage providers across the country.

Net mortgage lending from mutuals was up by 40 per cent in the quarter when compared to the same three-month period last year.

And first-time buyers were afforded some slack at last, with the three months until March providing them with 6,500 mortgage approvals, showing a significant growth on the 3,100 seen last year, although this growth can, in part, be credited to the fact that people were rushing to beat the end of the stamp duty holiday on March 24th.

The market was also particularly strong for those who are looking to move home.

Adrian Coles, director-general of the Building Societies Association, said: "Approval figures demonstrate that there is a strong mortgage pipeline, which suggests that mutuals' mortgage lending will hold up well into the summer."ADNFCR-1222-ID-801356603-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.