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

Breaking News

Share of first-time buyers opting for low-deposit deals rose 8.6% in October

Barclays mortgage data shows deposits under £20,000 made up 22.1 per cent of first-time buyer completions in October 60 per cent of renters say they would require financial incentives or homebuying support schemes to get onto the property ladder Confidence in the housing market dipped three percentage points to 24 per cent month-on-month, although sentiment…
Read More →
Rightmove logo
Breaking News

Nearly one in five potential movers waiting for Budget before resuming plans

A new Rightmove study of over 10,000 potential movers looks at how Budget speculation is affecting decisions Nearly one in five (17%) potential movers said they have paused their plans due to uncertainty about changes to property taxes in the upcoming Budget The majority (61%) of potential movers surveyed said they were aware of rumours…
Read More →
Breaking News

Latest ONS Private Rent and House Prices Index

Average UK monthly private rents increased by 5.0%, to £1,360, in the 12 months to October 2025 (provisional estimate); this annual growth rate is down from 5.5% in the 12 months to September 2025. Average rents increased to £1,416 (5.0%) in England, £817 (6.7%) in Wales and £1,008 (3.4%) in Scotland, in the 12 months…
Read More →
Estate Agent Talk

Winter property checklist: How to protect your home this season

As temperatures drop and winter approaches, Propertymark, the leading professional body for estate and letting agents, is urging homeowners and tenants to prepare their homes for the colder months with a few simple maintenance checks that can prevent costly damage and ensure safety and comfort throughout the season. According to Propertymark, winter is one of…
Read More →
Breaking News

London homebuyers have paid nearly £25bn in Stamp Duty over the last decade

The latest research from Jefferies London shows that, as many await news of potential Stamp Duty reform in the upcoming Autumn Budget, homebuyers across the capital have collectively paid almost £25bn (£24.9bn) in Stamp Duty over the last ten years, with buyers in prime central London contributing the largest share by a considerable margin. Jefferies…
Read More →
Letting Agent Talk

Slow maintenance responses are driving tenant anxiety

New research from Adiuvo, the UK’s leading provider of 24/7 property management support, reveals that almost 60% of tenants report feeling increased stress or anxiety as a result of maintenance issues in their rental property, and for most, the lack of landlord action is more stressful than the maintenance issues itself. Adiuvo has surveyed 1,.013…
Read More →