This modest adjustment when viewed in a broader context over six months shows that the number of loan approvals were in fact higher than the six month average, demonstrating that despite slight decline in June there is an underlying upward trend.
However, although Funding for Lending has made credit much more readily available many first time buyers continue to feel their dreams of homeownership slipping through their fingers as house prices continue to rise. They may now be hanging their hats on Osborne’s mortgage guarantee scheme, the second and more controversial phase of Help to Buy, which is due to be introduced at the start of next year.