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Mortgage approvals remain level

by Kevin Rose
30 November 2017
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New lifetime mortgage provider gets FCA approval
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The latest Mortgage Monitor from chartered surveyor e.surv has reported that the number of mortgage approvals remained level between September and October, falling back marginally compared to the same point a year ago.

The firm recorded 66,136 mortgage approvals (seasonally adjusted) this month. This figure was flat compared to September, when 66,185 loans were approved, but down 1.5% compared to October 2016.

Despite the market remaining flat month-on-month, the proportion of buyers with smaller deposits getting loans dropped again this month.

Some 17.7% of all loans were went to this part of the market in October, down from 19.8% a month ago and 20.3% in August.

However, this month’s figure is still above the most recent low point – in December 2016 – when small deposit borrowers made up just 16.1% of the market.

Richard Sexton, director of e.surv, said: “The mortgage market performed above expectations all summer, so for this to continue well into the autumn is good news for would – be borrowers.

“However, the drop off in small deposit borrowers – which includes many first-time buyers – should also be noted. This once again highlights the fact more should be done to help young borrowers get onto the ladder.”

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No Result
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  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
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  • COMMERCIAL
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    • Auction finance
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    • Equity release
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© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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