Home loans for first-time buyers `up by £2bn`

16 September 2009

Home loans for first-time buyers increased by £2bn in the second quarter of 2009, compared with the previous quarter, according to new figures.

The FSA (Financial Services Authority) reported that lenders provided first-time buyers with £5bn in new loans for home purchase in the second quarter of 2009, compared with around £3bn in the first quarter.

Many first-time buyers have had trouble getting a home loan recently, with lenders remaining cautious about their lending. But recent developments suggest that lenders may be becoming more confident.

A loans expert for Think Money said: "There are a number of signs that lenders are becoming more confident about their lending, and we could see further increases in the number of home loans being offered over the next few months.

"In the meantime, anyone looking for a home loan should speak with an expert mortgage adviser, who could help them to find the best deal for their circumstances."

Tags: home loans, loans, mortgage

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