General | 17 February 2012

First-time buyer numbers increase

The Council for Mortgage Lenders (CML) has released figures indicating that the number of first-time buyers increased in December.

18,700 loans were approved in December for first-time buyers showing a 7% increase from November’s figures.

A 3% rise in those purchasing properties below the current stamp duty threshold of £250,000 was also noted. This has been attributed to the Stamp Duty exemption ending 24 March after which time the threshold will be lowered to £125,000.

Despite positive figures Paul Smee, CML’s Director General forecast that over the next 12 months: “With the Eurozone problems still rumbling on … we believe there is still a real risk that this year’s lending levels will be lower than those seen in 2011.”