The value of mortgage loans for first-time buyers rose by a quarter from April to March, and is now up by more than half on the previous year

Latest figures from the Council of Mortgage Lenders show 拢2bn of home loans were advanced to first-time buyers in March, up 54% on last year, for a total of 17,300 mortgages. The average loan-to-value rose above 75% for the second consecutive month, the first time this has happened since January last year.

The value of mortgage loans was almost two-thirds higher than March last year, at 拢6.3bn, and 24% above February. The number of loans rose to 45,000, up a quarter on February and 45% on March 2009.