The number of house purchase loans granted for home buyers increased 12% in February, according to data from the Council of Mortgage Lenders.
CML said that the 35,000 figure signified a “modest recovery” from the previous month, as January’s data had been distorted by one-off factors such as the end of the stamp duty exemption in December 2009, and the harsh winter weather.
At the same time, the February loan figures were up 49% in volume and by 67% in value from a year earlier.
The number of loans advanced for home movers (22,600) climbed 11% by number and 6% by value, less of a rebound figure, CML said.
Giving a short term outlook for the market, CML’s head of research Bob Pannell said: “With the supply of credit still tight and the upcoming election causing political uncertainty, we are unlikely to see much change in the near future although the new stamp duty exemption for first-time buyers could boost the market somewhat. “
Source: Housebuilder
See Also: Property News (0), Housebuilder (0), Council of Mortgage Lenders (0)
Date Published: 14 April 2010
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