THE LATEST DATA AND ANALYSIS FROM UK FINANCE HAS REVEALED THAT DESPITE ‘CHALLENGING’ MARKET CONDITIONS AND THE ONGOING BREXIT AND POLITICAL CIRCUS, FIRST-TIME-BUYER NUMBERS REACHED A 12-YEAR PEAK DURING LAST YEAR.
According to the report from UK Finance, there were 370,000 new first-time buyer mortgages completed in 2018, a 1.9% rise when compared to 2017. This is the highest number of first-time buyer mortgages since 2006, when this figure stood at 402,800. The £62bn of new lending in the year was 4.9% more than in 2017.
During December, there were 30,900 new first-time buyer mortgages completed. This was a 1.6% rise against the same month a year earlier. The £5.2bn of new lending in the month was 4% more year-on-year. UK Finance revealed that there were 30,000 new homemover mortgages completed in December last year – a drop of 1.3% against the same month a year earlier.
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