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Net mortgage lending 'on the up'

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People may be finding it easier to get a loan to buy a house, it has been suggested.

Recent research from the British Bankers' Association (BBA) has shown that mortgage lending has returned to trend after dropping in July - and people are buying almost as many homes as they were at the same time in 2007.

BBA statistics director David Dooks said: "Loans approved for house purchases have recovered to early-2008 levels."

On a whole, mortgage lending for residential properties has grown by 4.6 per cent over the last year.

Recent research from Unbiased.co.uk echoed speculation that buyer intrigue could be returning in force.

The website, which provides consumer advice, reported that 43 per cent of requests for information came from those looking into taking the first step onto the property ladder.

Chief executive David Elms said this was up from past figures and indicated a shift in the residential property sector.

"There is regained interest from first-time buyers think of entering the market," the consultant explained.
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Date Published: 24 September 2009

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