Mortgage approvals remain at record highs despite market uncertainty

June 28, 2019

Managing Director of One 77 Mortgages, Alastair McKee, commented:

 

“The latest mortgage approval numbers, whilst a smidgeon below forecast, have remained at a very healthy level indeed. In fact, along with the previous month, they represent some of the highest numbers since March 2017.

 

Buyers are evidently no longer being deterred from the market and indeed are seeking mortgages at almost record numbers. The latest figures also represent the strongest June performance since 2015 and one has to ask, how strong would the property market be without the current headwinds of Brexit uncertainty and, arguably, an even more uncertain prime ministerial race?”

 

Director of Benham and Reeves, Marc von Grundherr, commented:

 

“We’ve long predicted a post-Brexit bounce in the UK property market and low and behold we are seeing this already in today’s mortgage data.

 

As Brexit becomes wearing for would be home buyers, they are beginning to jump in with both feet resulting in more mortgage approvals than we have seen in all but one month since 2017.

 

This will only be a positive thing for the market as heightened demand will reverse the previous price growth declines we’ve seen across much of the market.”

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Estate Agent Talk

Identifying Common Structural Issues in Balconies

Living in a city like Sydney, where a breathtaking view of the cityscape and ocean can be the crowning jewel of your property, it’s no surprise that balconies are key features sought after by homeowners. However, over time, these aesthetically pleasing elements can become a structural nightmare due to a range of issues that compromise…
Read More →
Estate Agent Talk

Stay Safe With Aluminum Ladders: 5 Facts About Lightning Attraction

Whether redecorating, putting items away in storage, or cleaning windows, there are many reasons why you may need ladders. They’re likely an item you have tucked away in your garage or, if a contractor, a tool you carry to and from work. Although highly beneficial, it’s essential to use this device correctly. Why? Aluminum is…
Read More →
Letting Agent Talk

Some Instances Where Landlords Are Liable for Slip and Fall Accidents

In bustling urban environments, slip-and-fall accidents can disrupt lives, leading to injuries and legal complexities; landlords are responsible for maintaining safe premises. From icy sidewalks to poorly maintained staircases, instances where landlords may be held accountable for slip and fall accidents are diverse and nuanced. Understanding these scenarios is a matter of legal obligation and…
Read More →
Breaking News

Sales agreed up 12% on last year despite annual mortgage costs 61% higher than 2021

UK house prices broadly static but sales volumes are up 12% year on year UK house price inflation unchanged from last month at -0.2% Almost two thirds (64%) of all homes are in local markets with annual price falls, down from 82% last October with a clear north-south divide emerging. Higher mortgage rates continue to…
Read More →
Breaking News

Weekly News Roundup – 26/04/24

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of Contents Renters Reform Act – but what about Section 21? Agents urged to review AML policies following recent HMRC fines Smart Spaces & HID Signo reader tie up   Renters Reform Act – but what about Section…
Read More →
Estate Agent Talk

Understanding House Value in the UK: A Simple Guide

Everyone talks approximately assets expenses, from the records headlines shouting about the contemporary marketplace traits for your friends debating whether or no longer now is the proper time to shop for or sell. It might possibly appear to be a jumble of numbers and possibilities, but at the heart of it, knowledge house cost isn’t…
Read More →