Mortgage lending for home movers and FTBs hits decade high

Mortgage lending for home movers and FTBs hits decade high

Recent data has revealed that mortgage lending for home movers and first time buyers hit a ten year high in February.

According to UK Finance, total home owner purchases climbed to 50,000 in February 2018, the highest figure for this month since 2007.

Month-on-month, February saw completed first time buyer mortgages grow by 2.4% to 25,200, with new lending seeing an uplift of 2.6% compared to the correspondent month in 2017.

Whilst completed home mover mortgages remained unchanged from last year at 24,800, new lending for the group was up 1.9%, reaching £5.3 billion.

Also seeing an uplift was home owner remortgage, with February seeing 35,400 completed. Compared to the corresponding month in 2017, this is an uplift of around 11.3%.

 

Georgia Owen

Georgia is the Content Executive and will be your primary contact when submitting your latest news. While studying for an LLB at the University of Liverpool, Georgia gained experience working within retail, as well as social media management. She later went on to work for a local newspaper, before starting at Today’s Conveyancer.

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