First time buyers show signs of returning to the UK property market as loan applications surge

[Nicholas Wallwork]

There are tentative signs that first time buyers in the UK are returning to the market with the latest mortgage index from Charcol showing that the number of applications jumped 80% in a month.

Purchase mortgages are now at their highest level for many years with more than six in ten 10 mortgages in July being for purchases and initial signs indicating that August will be even higher.

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