24 Nov

Mortgages for houses for sale in Scotland rise, report says

Mortgages for houses for sale in Scotland rise, report says

The number of mortgages advanced to enable people to buy houses for sale in Scotland rose during the third quarter of the year.

According to figures released by the Council of Mortgage Lenders, there was a five per cent increase in the number of home loans advanced during the third quarter of 2010, compared with the previous quarter of the year.

This figure (13,500) also includes 5,000 loans advanced to first-time buyers and demonstrated a four per cent rise in the volume and five per cent growth in the value of mortgages progressed for this consumer group, compared with the previous three-month period.

These findings suggest that the housing sector in Scotland has seen a boost, with first-time buyers accounting for 37 per cent of the Scottish market.

As well as the number of mortgages advanced rising, Lloyds TSB reported earlier this month that the price of houses for sale in Scotland grew by 3.7 per cent during the third quarter of 2010. ADNFCR-1222-ID-800254279-ADNFCR

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