Loan Activity Experiences Growth in the First Quarter of the Year

Recent data shows positive trends in the mortgage market, with a notable increase compared to the same time in 2011. The Council of Mortgage Lenders reported that gross mortgage lending last month reached £10.2 billion, a rise from April 2011’s £10 billion. Although this was slightly less than March’s impressive £12.6 billion, it’s clear that more first-time buyers and those looking to remortgage are eager to enter the homeownership arena.

A key development this year is that buyers were motivated to purchase homes before the stamp duty holiday ended in March. Instead of discouraging potential homeowners, the strong figures for April demonstrate the proactive attitude of UK homebuyers who are always on the lookout for good deals.

For those seeking mortgage deals, there’s more good news. The Nationwide Building Society has significantly increased its mortgage lending by over 40%, according to a report by the Guardian. A crucial factor in this increase is the participation of first-time buyers, with Nationwide providing around 24,000 mortgages to this group in the UK. As the UK celebrates the Queen’s Jubilee, the lending sector, which includes both online loans and mortgages, is offering plenty of reasons for people to be optimistic.