An article on the BBC Business News section on 16 January states ‘Mortgage lending picked up in November, CML says’.
The article refers to statistics on the Council of Mortgage Lender’s (CML) website for November when the number of loans made to home buyers rose to 4%.
CML director general Paul Smee commented:
“A rise in mortgage lending towards the end of 2011 is a welcome indicator for the industry considering confidence has been weak due to fragile economies both at home and in the Eurozone. We should expect a further increase in first-time buyer activity over the next few months as they push through their purchases to take advantage of the stamp duty concession before it ends in March.”
If you would like to read further about the Stamp Duty Land Tax relief available for first time buyers until 24 March 2012 please refer to our recent article on Stamp Duty Land Tax reliefs.