Mortgage market see some recovery
Mortgage lending showed a slight rebound in April, according to the Council of Mortgage Lenders (CML).
Some 50,700 loans to purchase homes were granted in April, a rise of 5,000 from the previous month and the highest level since December.
But the number was still 36% down compared with the same month in 2007 because of the credit crunch.
An average first-time buyer put down a deposit of 13% of a property’s value and borrowed 3.3 times their income.
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