According to the latest figures released, the total home loans have risen to its highest level in four years in Northern Ireland as the stable prices attract home buyers.

The latest data showed that the home loans were at their highest level since 2009. According to the Council of Mortgage Lenders, the total number home loans increased 22 per cent to 2,800 loans amounting to £240 million during the third quarter of the year compared to the same quarter of the previous year. The loans were also 22 per cent higher than the previous quarter of this year.

The data also showed that 1,600 first-time buyers took home loans totalling £120 million from June to September this year, which is about 14 per cent higher than the previous quarter and about 23 per cent higher than the same period of the previous year.

Neil Allan, principal at the Mortgage Centre in Londonderry, Belfast and Magherafelt said, "I have maintained the same thing for the past five to six years - lenders will give you a loan if you are deserving of a loan, but if you have any kind of adverse credit, they won't."