Mortgage lending for house purchase at the end of 2005 stood at 46% of all lending (£37.6bn) reveal new figures from the Council of Mortgage Lenders (CML).
The new figures are revealed as part of the CML’s new regulated mortgage survey (RMS), which it says has around 90% of market coverage and provides much higher quality data. According to the figures a further 42% (£34.1bn) of mortgage lending was for remortgaging in the final quarter of 2005. And it says first-time buyers (FTBs) accounted for 38% (108,500) of house purchase loans in the fourth quarter of 2005 - significantly higher than the old SML estimate of around 29%. The CML says it believes its new data is more reliable than previous surveys it has conducted rather than showing a ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
