FSA publishes latest mortgage data

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FSA publishes latest mortgage data

The Financial Services Authority (FSA) has published its latest mortgage data for UK borrowers and has highlighted a 0.2 per cent rise in loans over the last quarter.

According to the organisation's findings, mortgage borrowing rose to £1,283 billion by the end of the third quarter of 2011 - with new advances standing at £44 billion for the three months (up by seven per cent in comparison to Q3 2010).

The number of borrowers who received funds who had an impaired credit history stood at 0.4 per cent - marking three full years when this figure has remained below one per cent in quarterly statistics.

Furthermore, the number of new people in arrears on their borrowings actually fell by two per cent to 34,900 during the period - an annual shift of minus nine per cent on the same time in 2010.

The news follows comments by Lee Grandin, managing director of Landlord Mortgages, who noted lenders are becoming more selective about who they give mortgage deals to in the present financial climate.

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