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Home loan activity inched up by four per cent in the UK in February as some brave borrowers moved to take advantage of bargain lending rates.
Around 24,300 loans were written over the month, according to the Council of Mortgage Lenders.
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This represented a 47 per cent decline in activity compared to the same time last year however.
Despite stricter lending criteria, first home buyer market share rose by 7 per cent – accounting for 38 per cent of all loans written. Nevertheless, compared to the same time last year the number of first home buyer loans has fallen by almost half.
