Nationwide mortgage boost for first time buyers.
Nationwide mortgage lending has risen sharply over the last 12 months including lending to first time buyers.
Gross Nationwide mortgage lending was 44% higher for the year up to to 4 April 2012 than for the year up to 04 April 2011. The lender advises you need only look at recent figures to see it's continued commitment to the first time property buyer sector.
According to Nationwide £18.4 billion was lent in the last 12 months, which included a 9% increase in loans to first time buyers. According to the building society it has helped 24,000 first time buyers purchase a home in the last year.
Mortgage lending in general experienced an increase in the earlier part of the year, before falling back after the end of the stamp duty holiday at the end of March.
April's figures show a considerable slowing down as a 19% drop in lending was recorded for the month.
This drop was anticipated, as the end of the stamp duty holiday led to an increase in market activity in March as first time buyers rushed to complete their property purchase. First time buyers trying to buy before the end of the concession accounted for 42% of all mortgages approved in the month.
Whether you are looking for a competitive first time buyer deal, or a comparison of Nationwide mortgage rates against the wider market contact Deal Direct today.
Contact Deal Direct and we will source for you the most competitive mortgages rates on offer.
