Tuesday, 11 August 2009

The Number Of Mortgages On The Increase

News from Dibben and Dibben. The number of mortgages for homebuyers granted in June in the UK rose by around 23% compared with May, according to UK lenders. Around 45,000 home loans were granted for house purchases - just 6% lower than the same month the previous year, the Council of Mortgage Lenders (CML) has reported today. The CML also said the mortgage market had stabilised, although this was far from a return to the housing boom. First-time buyers were still being squeezed, as they required to find an average deposit of 25% of a home's value.

The CML figures also showed that the number of loans granted in June to people buying a house was at its highest level since July of last year, when the housing market was already entering the doldrums, and amounted to £5.9bn.

CML economist Paul Samter. was quoted as saying; "Low interest rates and realistic selling prices have helped generate a welcome increase in transactions. But there is some way to go before we reach normal levels of activity," He continued by saying ; "There are tentative signs that lending criteria are easing, but remortgaging demand is likely to remain subdued whilst interest rates stay at current levels."

The average house purchase loan rose from £105,000 in March to £111,000 in June, signalling the recent increase in the typical house price.

Looking for an Estate Agents in Fareham or an Estate Agents In Southampton, then look no further than Dibben and Dibben established Estate Agents in Hampshire for over 20 years.

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