lifetime rental

Mortgage lending increases in April 2018

According to UK Finance, the financial industry trade association, mortgage lending in April was 13% up on the previous year. Mortgage approvals are 11% higher than a year before, this is driven by re-mortgage approvals which were up 30%.

According to research by Legal and General, friends and family help 27% of homebuyers with their deposits, the so called Bank of Mum and Dad. Delving deeper into the figures, shows that in the south-east with high property prices, nearly 50% of buyers get help. This amounts to nearly £6 billion, the average amount lent has dropped to around 18,000 from £21,600 in 2017.

Check Also

Here’s what the Average Brit’s Disposable Income Looks Like

With Government data showing Disposable income in the UK is up by £400 per household …

Wait, why not sign up to
our free newsletter?

Don't miss out on some fantastic Home advice, News, Offers, Competitions & More! Get the best direct to your inbox! Sign up today...