Over 20% of all mortgage approvals went to small deposit buyers according to e.surv

February 21, 2018

Latest e.surv Mortgage Monitor February 2018 headlines ‘Small deposit mortgages kickstart new year.’

The February Mortgage Monitor revealed a positive start to the year for the UK mortgage market, with an increase in the number of small deposit mortgages being approved.

The latest Mortgage Monitor from e.surv found that 21% of all approvals went to small deposit buyers, well above recent months. In December 2017, 18.2% of loans were to this part of the market while the month before it was just 17.2%.

Richard Sexton, a Director of e.surv Chartered Surveyors, comments were:

“We are now starting to see the effects of the Bank of England’s decision to increase the base rate filtering through to the market.

“While it is now two months on from the base rate rise, we are starting to see those who were alarmed by the talk of increased rates finalise new mortgage deals, whether with their existing lender or elsewhere.

“First-time buyers and others with smaller deposits have experienced a strong start to the year, with the proportion of loans rising compared to the end of 2017.

“While other types of borrowers have been squeezed, the larger overall mortgage market means that more people are getting approved than a month ago.”

Richard Sexton, a Director at e.surv Chartered Surveyors, concluded:

“We know that raising a deposit is one of the most difficult tasks would-be homeowners face. House hunters in London face an uphill struggle to get themselves a big enough deposit to buy, but there are places in the UK which offer much more fertile ground.

“In the North West and Yorkshire there are more mortgages approved to buyers with smaller deposits than those with a large cash pile, both are ideal places to get your foot onto the property ladder.”

Read the e.surv Mortgage Monitor report February 2018 in full click here.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Rightmove logo
Breaking News

Mansion Tax on Homes over £2 million

Comment on Mansion Tax being introduced for homes over £2 million and £5 million from April 2028 Colleen Babcock, Rightmove’s property expert says: “The property market needs less taxation not more, to encourage and enable movement. Today’s announcement of a Mansion Tax could lead to some distortion at the top end of the market, particularly…
Read More →
Breaking News

Autumn Budget 2025: Property Industry Reacts

The Autumn Budget has confirmed a series of major housing and property tax reforms that will reshape the market over the coming years. The measures place particular emphasis on higher value homes, revised council tax structures and long term planning reform. Below is a breakdown of the announcements that directly affect the property market, together…
Read More →
Breaking News

Solutions to fix construction skills

The Centre for Social Justice (CSJ) has released a report titled, ‘Skills to Build: Fixing Britain’s construction workforce crisis.’ After speaking to several organizations and having roundtables to garner a wide understanding of the sectors’ perspectives and needs, they have proposed twenty six recommendations that will fix the issues underpinning the skills crisis. Richard Beresford,…
Read More →
Breaking News

Budget Commentary – Mansion Tax, Business Rates & Planning Reform

Andrew Teacher, Co-founder at LauderTeacher, one of the UK’s leading advisors on real estate communications, investor relations and a former spokesman for the BPF, comments on the potential Budget. Mansion tax “Nobody likes paying tax, but the reality is a council tax revaluation is long overdue. Rather than distorting the market, which is what a…
Read More →
Rightmove logo
Breaking News

Budget 2025 market data & home-mover and agent insight

Speculation about property tax changes is fuelling uncertainty across much of the market Rightmove research found that home-movers would favour staggered stamp duty payments, while a poll of estate agents also suggested that staggered payments would be a preferable change to shifting payment to the seller Rightmove data on rumoured property tax changes Mansion Tax…
Read More →
Breaking News

Breaking Property News 24/11/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Symple resolves four core issues in the new Renter’s Rights Act Automating compliance in the new PRS landscape   The Renters’ Rights Act has raised the bar for private landlords in England in terms of property condition, hazard resolution, evidence of compliance and regulatory registration. Symple…
Read More →