New mortgage lending in the UK climbed in the third quarter for the first time in three years, said a report.
However, the number of foreclosed homes increased slightly, up to 7,316 new cases in Q3, from 7,058 in Q2 2011 and 6,583 in Q3 2010.
According to the quarterly Mortgage Lending Report released by the Financial Services Authority, new loan commitments of £42 billion (S$84.9 billion) were recorded in the third quarter of this year, up six percent from Q2 and 10 percent higher from the same period last year.
The report also showed that the number of homeowners falling into arrears declined two percent to 34,900 cases in Q2 and down nine percent from the same period last year.
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