Figures from the Council of Mortgage Lenders (CML) show that mortgage loans were up 17% on the previous three months.
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Category Archives: Mortgage Buyers
There has been an increase in demand for homes with more loans especially from first time buyers in August.
The second phase of the Help to Buy scheme launched by the government is likely to see mortgage costs at 5%.
According to the UK’s largest lender the Halifax annual growth is at 6% after eight months of rising property prices.
The Bank of England has confirmed the number of mortgages approved is at the highest level for the past five-and-a-half years.
David Cameron has promised to launch the Help to buy scheme with mortgages up to 95% loan to value.
To reduce the cost of repayment mortgages, first time buyers are opting for longer terms of up to 40 years.
Bank of England figures show mortgage approvals increased to 60,624 the highest level since March 2008.
Property prices are up by 3.5% according to Nationwide as mortgage lenders offer more competitive loans.
A year after interest only mortgages were criticised by the regulator two banks are plan a comeback.