London property market avoids usual seasonal lending dip

The usual seasonal dip in home lending in the first quarter of the year didn’t seem to happen in London as the latest data shows borrowing up quarter on quarter and year on year. The data from the Council of Mortgage Lenders shows that home buyers in London borrowed £7.1 billion in the first three months of 2016, up 6% quarter on quarter and 41% on a year ago. They took out 21,400 loans, down 2% on the previous quarter but up 20% compared to the first quarter 2015. First time buyers borrowed ...