Gross UK mortgage lending rose 12 per cent in July to £16.7
billion, up from £14.9 billion in June and 29 per cent on July2012, according
to the Council of Mortgage Lenders (CML). This growth was particularly fuelled
by first-time buyers. In July, 25,300 loans were made to first-time buyers,
worth a total of £3.5bn, was 6 six per cent on June and 46 per cent on July
last year. The typical first-time buyer loan size was almost unchanged from
June at £117,038. Lending for buy-to-let also rose -15,200 buy-to-let loans
were made in July, a rise of 12 per cent compared to June. Read more on the CML
website.
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