FTB lending in Scotland 'on the up'

The amount of money being advanced to first-time buyers (FTBs) in Scotland is continuing to climb, new research has shown.

According to the latest figures from the Council of Mortgage Lenders (CML), the second quarter of this year saw a total of £630 million advanced to FTBs in the country, which was 54% higher than the first quarter.

It was shown that this amount also represented a 40% climb on the same period in 2012.

The report revealed a total of 6,500 loans were taken out by Scottish FTBs across the second quarter of 2013 - 33% higher than during the same timeframe last year and marking the largest quarterly total since the middle of 2008.

Iain Malloch, chair of CML Scotland, said: "The positive growth in lending to both first-time buyers and home movers has led to a welcome increase in lending for house purchases in Scotland."