First-time buyers cautious

The number of loans to first-time buyers is 19 per cent higher than the same time last year, new data shows, but remortgage lending has dipped by 26 per cent.

May saw just a nine per cent rise in first-time buyer loans from April, while by value, lending to first-time buyers rose 11 per cent, while remortgage lending went down by 18 per cent from April, a 15 per cent decrease in value from last year.

The number of people moving home grew from last year both by number and loan value, by nine per cent and 21 per cent respectively, the research carried out by CML showed.

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