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Residential mortgage loans have increased to their highest level since reporting began, data from the Bank of England has revealed.

The bank’s Mortgage Lenders and Administrators Statistics Q4 2024, found the outstanding value of all residential mortgage loans increased by 0.5 per cent from Q3 2024 to Q4.

As a result, the value rose to £1,678.2bn, the highest stock of outstanding mortgage loans since 2007, when reporting began, and 1.3 per cent higher than a year earlier.

The share of lending to first-time buyers also saw a record increase, rising 0.3 percentage points to 29.6 per cent.

This also represented the highest share since reporting began and was 1.9 percentage points higher than a year earlier.



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