April sees rise in mortgage approvals
Housing market slowdown yet to affect mortgages. First-time buyers benefit from increased lender focus. Strong growth in number of small deposit borrowers.
Housing market slowdown yet to affect mortgages. First-time buyers benefit from increased lender focus. Strong growth in number of small deposit borrowers.
Homeowners looked to remortgage to a cheaper interest rate, while activity in the property market was once again sluggish.
March sees 4% annual rise in approvals. Mid-market borrowers dominate the market. Yorkshire has highest proportion of first-time buyer lending.
Lenders are becoming increasingly happy for customers to take out long-term loans, with a sharp rise in the number of 40-year products on the market.
Slowdown in the housing market not yet reflected in mortgage approval. Larger number of new mortgages generate than a year ago. London market remains most difficult for first-time buyers.
The number of first-time buyers achieving their dream of home ownership reached a 12-year high in 2018, according to industry data published by UK Finance.
Growth in number of approvals to small deposit borrowers. Four regions are dominated by these buyers. Overall market up compared to last month.
First-time buyers flocked to take out mortgages in November 2018, although remortgage customers remain the main driver in the market.
Growth in number of approvals to small deposit borrowers. Four regions are dominated by these buyers. Overall market up compared to last month.