Lending to first-time buyers hits a 12-year high

There have been the most first-time buyer mortgages completed since before the global financial crisis.

In August, there were 35,010 new first-time buyer mortgages, the highest monthly total since August 2007, when there were 35,070.

However, other types of mortgages were down.

There were 35,380 home mover mortgages in August, 5.5% down on the same month last year.

Remortgages were down 2.9% over the year, and there were 3.3% fewer buy-to-let house purchase mortgages, at 5,900.

Remortgages in the buy-to-let sector were also down by 0.7% over the year, to 13,800.

The figures are all from trade body UK Finance.

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