FTBs drive Scotland and NI markets
In 2014 Scottish first-timers advanced 27,700 loans totalling £2.9bn, representing an increase of 16% in volume and 23% in value compared to the total in 2013.
Northern Ireland fared even better in 2014 compared to the year before, as its first-time buyers took out 7,500 loans worth £620m which represents increases of 25% and 35%.
But in the fourth quarter of 2014 first-time buyer activity cooled in Scotland from quarter three, as loan volumes decreased by 4% (7,000) while loan values fell by 5% (£750m).
Northern Ireland’s first-time buyer market remained active in quarter four however, as its buyers took out 2,000 loans worth £170m, which represents an increase of 6% and 5% from the third quarter.