Lending to first-timers hits £5.1bn in March

Mortgage lending to first-time buyers increased by 2% in March, to £5.1bn, according to UK finance, as first-time buyer mortgages completed in the month fell 1.9% to 31,200. There was £6.1bn of new lending to home-movers in the month, 4.7% down year-on-year, with 28,400 new home-mover mortgages completed in the month, 7.8% fewer than in the same month a year earlier. UK Finance found 32,400 homeowners remortgaged in March, down from 36,800 a year earlier. The value of mortgages taken out by landlords in March fell by 20% compared with the same month of 2017, with the 5,500 buy-to-let loans taken out in the month down from 6,800 a year ago.

The Daily Telegraph (16/05/2018)