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R>The number of loans advanced to first time buyers in the UK in October returned to levels similar to those seen over the summer following a slow September, according to new data released today (Wednesday 12 December) by the Council of Mortgage Lenders.
Lending to home movers also increased, contributing to a jump in house purchase lending. Remortgage lending, while still relatively modest, reached its highest level in six months.
The data shows that a total of 20,000 loans were advanced to first time buyers in October, a rise of 14% compared to last month and up by 19% compared to this time last year. In total, loans to first time buyers were worth
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