New mortgage lending in November fell again according to the Council of Mortgage Lenders’ figures. Only 33,000 new loans were grants – 17 per cent less than in October 2008, and a whopping 59 per cent in year on year figures. First-time buyers have to find an average deposit of 18 per cent of the value of their property, the largest amount for more than 35 years. For current information, see further details.
