Mortgage lending to first-time buyers bounces up

Monica Bradley - Independent Financial Adviser

Mortgage lending for house purchases totalled £10.7bn in November – up 18% on the same month in 2014, although a monthly drop of 9%.

Altogether there were 60,100 house purchase loans.

First-time buyers took out 27,900 loans, up 20% year on year but an 8% monthly drop.

Home movers took out 32,000 loans, representing a 10% monthly drop but a 9% annual uplift.

There were also 23,300 buy-to-let loans, up nearly 35% from November 2014’s figure of 17,300.

The figures are from the Council of Mortgage Lenders.

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