Monday 30 December 2013

Conveyancing in London for FTBs on the increase

New data revealed by the CML shows a marked increase in London conveyancing for first time buyers. For the third quarter of 2013 there were 13,100 conveyancing transactions involving first-time buyers in London. This represented an increase of 24% on the previous quarter and a rise of 32% compared to the third quarter of 2012. 

Property price increases in London, and the knock on effect on the typical loan amount has resulted in stronger growth in the value of lending to first-time buyers.  In total, £2,960 million was advanced in the third quarter of 2013, a 25% increase compared to quarter two and up 42% compared to the same period in 2012.

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