Qualified advisers answering your
Financial Questions
call 0800 092 1245

Lending Figures Up For April But Down Year On Year

Those looking for even the merest snippet of good news in the UK lending market would have been glad to see lending figures from the Council of Mortgage Lenders (CML) which showed an increase of 9% in the number of mortgages approved in April against the previous month. However, the actually year on year figure is down from 80,500 in April last year to 50,700 in April 2008, a substantial fall.

It seems that the first time buyers market is an area which is coming under particular pressure with more lenders now asking for higher deposits and stricter guidelines forcing many home buyers to think again. While the number of first time buyer mortgages rose by 4% between March and April, the figure is down 36% from the same period last year.

Even the most optimistic of observes in the sector now admit that the situation it likely to get much worse before it gets any better with finance costs climbing in the money markets. One of the boom areas of the UK economy over the last few years, home ownership, has seen a sharp reversal in recent months. Quite where or when the sector will ‘bottom out’ remains to be seen.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details