The Telegraph reported that lenders get to this time of the year and have to push to hit end-of-year lending targets. Hence low rates to boost activity in the first-time buyer market.
UK Finance, the banking industry trade body, said that there were 35,010 new first-time buyer mortgages completed in August 2019, 0.7pc higher than the previous year.
In the same time period, the number of home mover, remortgage and buy-to-let completions all declined.
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