Home-owner house purchase lending up 24% year-on-year
The latest data from the Council of Mortgage Lenders shows that UK lending in October 2013 has improved significantly.
The total number of mortgages advanced to home-owners for house purchase rebounded strongly from its seasonal fall in September, up in volume by 17% and in October which is a year-on-year increase of 24%.
First-time buyers were advanced 26,800 mortgages in October, which is the highest number in a monthly period since November 2007. The number of mortgages advanced to home movers also increased 19% in volume compared to September and was up 16% compared to October last year.
The Bank of England reported earlier this week that gross UK mortgage lending was £17.6bn in October, a 9% increase compared to September and 36% higher than the total of £12.9 billion in October last year.
December 13, 2013
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