Advertisement
Powered by MOMENTUM MEDIA
lawyers weekly logo
Borrower

UK borrowing activity up

3 minute read
The Adviser

Home loan activity inched up by four per cent in the UK in February as some brave borrowers moved to take advantage of bargain lending rates.

Around 24,300 loans were written over the month, according to the Council of Mortgage Lenders.

This represented a 47 per cent decline in activity compared to the same time last year however.

Despite stricter lending criteria, first home buyer market share rose by 7 per cent – accounting for 38 per cent of all loans written. Nevertheless, compared to the same time last year the number of first home buyer loans has fallen by almost half.

 

default

JOIN THE DISCUSSION

You need to be a member to post comments. Become a member for free today!
You have 0 free articles left this month.
Register for a free account to access unlimited free content, or become a PREMIUM MEMBER to enjoy a wide range of benefits