House purchase lending in November in the UK increased to its highest level for eleven months, with banks choosing to focus an improvement in mortgage funding on wealthier borrowers rather than first time buyers.

The latest Mortgage Monitor from e.surv chartered surveyors reveals that there were 53,259 house purchase loans in November, the highest since January. But the modest improvement was due almost entirely to an increase in lending to wealthier buyers.
First time buyers struggled in November, with purchase approvals on the most affordable property below