Upcoming Events :
Seminar: Outsourcing and Contract Procurement
Tue 28 Feb 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Mortgage borrowing 'in recovery'
Wed 19 May 2010
The amount of mortgages that have been given out by lenders has risen dramatically, prompting speculation that the market is making steps towards recovery.
According to the Council of Mortgage Lenders, the number of loans that were granted to prospective buyers rose by 25 per cent between February and March this year.
The news was positive for first-time buyers, as the amount needed for a deposit stood at 24 per cent for the second consecutive month, compared to the 25 per cent that has been the average since the beginning of 2009.
There was also an increase of 27 per cent in loans that were being given to those looking to get on to the property ladder, with a 24 per cent rise also being recorded for those who already own a property.
Increasing mortgage availability may well be considered good news for many prospective buyers, as the Land Registry has reported that house prices have been rising since the beginning of last year. 
