Anderson Bain - andersonbain LLP News & Updates
Mortgage Lending Increases in Scotland
Recently published data from UK Finance has revealed that Scottish home buyers borrowed £2.5bn in the second quarter of this year, which is an increase of 35% quarter-on-quarter and 18% year-on-year.
- First-time buyers borrowed £1.1bn, up 29% on the first quarter and 17% on the second quarter last year. This equated to 9,500 loans, up 25% quarter-on-quarter and 15% year-on-year.
- Home movers borrowed £1.5bn, up 39% quarter-on-quarter and 20% compared to a year ago. This totalled 9,300 loans, up 37% quarter-on-quarter and 16% compared to the same quarter in 2016.
- Remortgage activity totalled £900m, down 7% on the first quarter but up 7% on the same quarter last year. This came to 7,300 loans, down 10% quarter-on-quarter but up 4% compared to a year ago.
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