The Council of Mortgage Lenders (CML) has published new figures which reveal an improvement in the number of first time buyers securing a mortgage in December 2013.
The figures show an increase in first time buyer lending of 27% year on year. The number of first time buyers and home movers increased across the country in December last year with an annual rise of 37% and 19%. These figures reflect the growing trend of increased market activity that has been seen over recent months which demonstrates increased confidence in buyers and lenders.
CML Director General Paul Smee commented: "First-time buyers were an especially important factor in driving the market forward in 2013 as improved economic conditions have given the opportunity for them to enter the market and become homeowners."