Lending is Up!

Posted 15/08/2009

The Council of Mortgage Lenders (CML) has confirmed that mortgage loans for buying and remortgaging properties in England and Wales are increasing.

Purchase loans are up 23% from May 2009 and remortgages 13%.

Typical first time buyers still need a 25% deposit, however the income multiples have started to increase modestly with a typical first time borrower lending 3.08 times their annual income, compared with 2.74% in May 2009.



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