Property Wire reports “Lending to first time buyers increased in February with official figures showing that completions increased year on year for a fifth month in a row.  There were 24,880 new first-time buyer mortgages completed, up 4.1% compared to February 2018, according to the data from trade body UK Finance.

The data also shows that there were 23,660 home mover mortgages completed, up just 0.1% year on year and there were 18,200 new remortgages, a year on year rise of 10%.  The average loan to value ratio in the remortgaging market was 57% while the average loan to income ratio was 2.74. This is considerably lower than mortgages for house purchases which showed an average loan to value ratio of 72% and a loan to income ratio of 3.37.” Read more

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