13 Jul

Mortgage lending picks up in June

Mortgage lending picks up in June

The volume of lending in the UK property market has picked up again after some months of downturn thanks to the end of the stamp duty holiday in March.

According to the latest figures released by the Council of Mortgage Lenders (CML), there has been a rise of 36 per cent in the number of mortgages loaned to buyers in June when compared to May.

The month also saw lending levels 29 per cent higher than during the same period last year.

One of the biggest improvements was seen in mortgages for first-time buyers, with the number rising from 12,700 in May to 18,100 in June as people came back to the market.

CML director general Paul Smee said: "It is positive news for the market that the slump following the end of the stamp duty concession seems to have been short-lived."

Homes are now becoming more affordable thanks to an increase in such schemes as NewBuy, which allow first timers to purchase a home with a five per cent deposit.ADNFCR-1222-ID-801407365-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.