FTBs return to "stable" housing market

The figures from the Council of Mortgage Lenders (CML), reveal the proportion of mortgage loans made to FTBs increased in March to 32%, up 3% on February’s figures, equivalent to around 22,000 loans. Gross mortgage lending also advanced 13% in March totalling £20.1bn, says the CML. But this was still 19% lower than the same time last year. And the first quarter of 2005 saw gross lending fall 16% to £55.3bn from £66bn in the fourth quarter of 2004. The CML says the seasonal fall in business volumes in January and February are principally responsible for this figure, with lending for bo...