An increase in the number of people moving home in July drove up mortgage lending, according to figures from the Council of Mortgage Lenders (CML).
A total of £12.7bn was paid out to homebuyers and remortgagors over the month, a 7% increase from the £11.9bn advanced in June and a 2% rise compared to July 2011.
The total number of loans granted for house purchases was 49,500. The number of loans taken out by home movers was up 8% month-on-month and 4% over the year at 30,500, and totalled £5.1bn, while 19,000 loans were taken out by first-time buyers. The latter figure was 1% lower than in June but 8% up on July 2011.
Uphill struggle: mortgage lending is slowly returning to levels seen in April. Photograph: Peter Macdiarmid/Getty Images
No comments:
Post a Comment