Home loans hit peak in October


Home loans hit peak in October

The number of mortgages advanced to people buying a home reached its highest level since December 2007 during October, figures showed yesterday.

Around 55,300 loans were taken out for house purchases during the month, 43% more than a year earlier and more than double the low of 23,000 seen in January this year, according to the Council of Mortgage Lenders.

First-time buyer numbers |also held steady during the |month, with 19,700 people buying their first home with a mortgage in October, a third |more than a year earlier.

But for the ninth month in a row, first-time buyers put down average deposits of 25%.

source here.

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