12 Nov

UK mortgage lending on the increase

UK mortgage lending on the increase

Buyers heading to estate agents to get themselves a deal are likely to find it getting slightly easier to afford a mortgage now, with more lenders approving mortgages than in the past.

According to new statistics from the Council of Mortgage Lenders, the last quarter saw the number of loans given to buyers leap by 13 per cent compared to the three-month period before.

This will come as welcome news to first timers in particular, who have found it difficult to get onto the ladder thanks to prohibitive lending conditions from many banks and building societies across the country.

The news of increase also comes in spite of a slow September, a month during which home mover loans actually fell by a startling 20 per cent.

CML director general Paul Smee said: "While lending in September was slow after a particularly strong August, quarterly figures suggest that the underlying picture is more positive."ADNFCR-1222-ID-801486461-ADNFCR

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