Private landlords and other property professionals may have been interested to hear the latest home loan announcement by the Council of Mortgage Lenders (CML).

According to the body, the number of mortgage completions for house price purchase increased in February.

The 24,300 house purchase loans worth £3.1 billion was up four per cent on the 23,400 loans recorded one month before.

This month-on-month upturn of 900 home loans will have included those taken out by private landlords ahead of renting out homes to tenants.

Despite the increase, the figure represents just one-third of the average February total between 2002 and 2007 - a five-year period that is seen as the boom time in the property sector.

Michael Coogan, CML director general, commented: "Recent mortgage approvals figures published by the Bank of England show some signs of improvement at the beginning of the borrowing process, although activity is at a very low level historically."

Written by John Weeks

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