The amount lent in mortgages has leapt 10 per cent in the
past year as first-time buyers race to seal deals before the stamp duty amnesty
ends. Year-on-year figures rose for the sixth month in a row after banks and
building societies lent £10.5billion in January, said the Council of Mortgage
Lenders (CML). Although seasonal factors meant the figure was 14 per cent weaker
than in December, the CML said the performance was in line with improved
sentiment in the housing market. The industry body believes the March 24
deadline for the end of the stamp-duty free period for first-time buyers on
properties under £250,000 has boosted activity.
Source - Daily Mail 21/2/2012
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