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80% of First-Time UK Buyers Had Help 

Jul 10, 2009By

The Council of Mortgage Lenders (CML), a UK industry group, this week said the tightening of lending criteria in the United Kingdom seems to be abating as the volume of first-time home owners receiving financial assistance grows. The number of loans for home purchases edged up 4% from April to 37,400 mortgages in May worth £4.7bn (US$7.6bn). At the same time, the volume of first-time homebuyers in the UK were little changed with 14,000 loans closed in May for a total £1.5, from 13,700 in April also worth £1.5.

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