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Mortgage lending to FTBs up 11% in 2012

Lending to first-time buyers increased by 11% in 2012 as the number of loans extended to borrowers with small deposits rose from 57,691 in 2011 to 63,896. The latest figures mark 2012 as the best year for high LTV lending – defined as 85% plus – since 2007, according to e.surv’s Mortgage Monitor analysis.
A similarly positive picture for overall lending also emerged since the number of house purchase loans climbed above the 600,000 mark for the first time since 2007. Purchase approvals rose 3%, from 590,425 in 2011 to 607,058 in 2012.
The end of the government’s stamp duty holiday in March is thought to have been a strong contributor to 2012’s higher levels of lending, particularly among FTBs.

 

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Currently we are operating as normal, we have put a number of procedures in place to help mitigate the spread and limit the impact on the companies operations. Our staff are fully equipped to work remotely from home to answer your mortgage related questions. Your safety and well-being is of the utmost importance to us and so we are closely monitoring the situation with COVID-19 and the mortgage market. If you have any questions related to a new or existing mortgage then we are a mortgage broker that is happy to help answer them. Thankfully, none of the Search Mortgage Solutions team has been directly affected by COVID-19 and we have taken preventative measures to ensure this remains the case, which includes our staff working from home where necessary.
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