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Brits 'stuck in the rent trap'

A new report today claims Britain's reputation as a nation of homeowners is coming to an end - and that a generation of would-be first time buyers are stuck in rented accommodation.

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Mortgage lending 'dips' for first-time buyers

New figures, released today, has shown first-time buyer mortgage lending has dipped for the first time since the start of the year.

Mortgage lenders have insisted that first-time buyer activity is strengthening, despite the dip. Credit: PA

Some 19,400 loans worth £2.5 billion were taken out by first-time buyers in April, a 1% decrease on the previous month, according to Council of Mortgage Lenders (CML) figures.

This marked the first drop in first-time buyer numbers since January.

Despite the recent pause, activity among first-time buyers in the first four months of the year has been stronger than during the same period a year ago, with 11% more loans advanced, the CML said.

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