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UK Mortgage lending up 20% in February
Mortgage lending for house purchases was up by 20% year-on-year in February, but lenders said the increase may have been fuelled by changes to stamp duty rules in March rather than indicating a resurgence in market activity. A total of £5.4bn was lent for house purchases – 2% more than in January 2012 and a fifth more than in February 2011. First-time buyers took out 14,100 mortgages worth a total of £1.7bn, while 22,500 loans worth £3.7bn were advanced to home movers. First-time buyer numbers in February were up by 8% on the previous month and by 18% on February 2011, while home mover numbers were up by ... (full story)