Mortgage lending 'up in Scotland'

Posted: 01 Dec 2011 12:35:54 GMT

Lending for house purchase in Scotland rose by eight per cent in the third quarter of 2011.

Mortgage lending in Scotland witnessed an increase of eight per cent in the third quarter of 2011, new research has shown.

Carried out by the Council of Mortgage Lenders, the study revealed lenders advanced 12,400 deals across the three-month period, which was up on the 11,500 agreements seen in the previous quarter.

For the UK as a whole, the investigation showed lending for home buying climbed by 16 per cent in quarter three.

The CML - whose members include banks, building societies and other home loan lenders - concluded that the overall mortgage market north of the border has been mainly stable, if a little subdued.

It was also demonstrated that lending criteria for Scottish purchasers improved modestly in quarter three, with first-time buyers being able to take out on average 80 per cent of a dwelling's value.

This was up on the 79 per cent recorded across the second quarter of the year.
 

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