UK home buying surges amid cheaper borrowing

The number of first-time buyer loans reached 341,068 over the period, a fifth more than a year earlier. — Bloomberg

London: British first-time buyers made up a record share of home loans last year as easing borrowing costs made houses more affordable, according to new analysis.

Those looking to step onto the property ladder accounted for 54% all mortgages in the 12 months through January, lender Halifax said.