First-time buyer activity up again in March

First-time buyer activity remained strong in March with the number of first-time buyers increasing by 20% according to data published today by the Council of Mortgage Lenders (CML). A total of 19,100 loans (worth £2.4 billion) were advanced to first-time buyers in March, up from 15,900 loans in February, but down on the 24,400 loans advanced in March last year. The average deposit first-time buyers put towards their property purchase remained at 20%. Although, the CML says that there has been a gradual increase in the proportion of first-time buyers taking out loans with a deposit of 10% or less. May 17, 2013