Banks and building societies handed out more mortgages to first-time buyers in March than any time since 2002, according to a trade association. Across the UK, 42,330 mortgages were issued to first-time buyers in March, marking the highest monthly total since December 2002 when 44,000 were advanced, UK Finance said. The peak month for lending to first-time buyers on UK Finance’s records was July 2002, with 54,100 loans. March 2021 was the original deadline for a stamp duty holiday in England and Northern Ireland, but the period has been extended. Eric Leenders, managing director of personal finance at UK Finance, said: “Since the housing market emerged from its shutdown last spring, we have seen a remarkable recovery in demand, which continued through quarter one 2021.

Source: Irish Independent June 03, 2021 12:54 UTC