Scotland sees strongest first quarter for home lending since 2008

Home lending in Scotland increased by 7% in the first quarter of 2016, the strongest first three months of a year since 2008, new figures show. A breakdown of the data from the Council of Mortgage Lenders shows that on an unadjusted basis home owners borrowed £1.8 billion, down 22% quarter on quarter but up 1% year on year. They took out 13,500 loans, down 22% on the previous quarter but up 7% compared to the first quarter 2015. First time buyers borrowed £660 million, down 24% on the fourth q...