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First-time buyers up in Scotland
THE number of mortgages given to first-time buyers in Scotland jumped by more than a quarter in the three months to the end of September, new figures show.
There were 5,400 first-time buyer loans in the third quarter of the year, 1,100 more than in the previous three months and identical to the number in the same period last year, according to the Council of Mortgage Lenders.
First-time buyer mortgages accounted for 39 per cent of the 13,700 house purchase loans taken out in the third quarter. The overall total was up 15 per cent on the three months to the end of June but down by the same amount on the corresponding period in 2008.
The average Scottish buyer borrowed 73 per cent of the property value, unchanged from recent months but 7 per cent more than in the second half of 2007. First-time buyers put down an average deposit of 25 per cent, compared with 16 per cent in quarter three 2008 and 10 per cent the year before.
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Sunday 27 May 2012
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