CML indicates mortgages for first-time-buyers on the up

The Council of Mortgage lenders (CML) has indicated that there were 18,700 loans for first-time-buyers in December of last year, up 14% on december of 2010 and 7% higher than November last year.

They have suggested that the increase might be due to first timers trying to purchase homes before the end of the 1% stamp duty holiday in March.

Overall, however, the number of mortgages granted to homebuyers in 2011 fell 6% to 509,500.