Recent figures released by the Council of Mortgage Lenders in Scotland for the second quarter of 2012 have revealed a growth in the number of first-time buyers in Scotland.
The number of first-time buyers increased by 20% compared to the first quarter of 2012. This represented a 9% increase on the same quarter in 2011 and the highest number of loans taken out by first-time buyers since the third quarter of 2010.
The increase in first-time buyers in Scotland compared favourably with the UK, where lending to first-time buyers fell by 3% in this quarter compared to the first quarter of 2012.
The rise in first-time buying activity was accompanied by a marginal increase in the percentage of income spent on mortgage payments, but first-time buyers still spent less than in the UK overall.
First-buyers in Scotland spent 17.8% of their income on capital and interest payments, an increase from 17.7% in the previous quarter, but less than the 19.6% overall UK average.
As well as an increase in lending to first-time buyers, lending to home movers contributed towards an overall increase in house purchase lending.
