Tightening in lending criteria abates

9 July 2009

New estimates from the Council of Mortgage Lenders suggest that a higher proportion of young first-time buyers than ever before are getting help from parents to enter the market. But more positively, the CML's latest data shows signs that lending criteria stopped tightening in May. Since reaching a record 25% in February, the average first-time buyer deposit has remained unchanged. And the typical first-time buyer income multiple has held at 2.97 from April.

Please view the full details from the Council of Mortgage Lenders

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