In January 2011, there was a 30% increase on the number of mortgages being given out when compared to the January before, according to chartered surveyors E.serv.
In total, 58,610 mortgages were given out. Of these, over 15,300 were lent on homes costing less than £125,000 – the price bracket that attracts first-time buyers.
This represents a rise of almost a third since last year. There have not been such a high number of mortgages being given on these types of properties since March 2008.
Richard Sexton, a director at E.serv, said that first-time buyers are rushing to buy properties before the Government’s stamp duty holiday – which allows first-time buyers to avoid the 1% duty on homes costing under £250,000 – ends in March.
This is ideal for those who are looking to sell house fast.
February 22, 2012 at 9:25 am | Sell House Fast |
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