Buyers with smaller deposits growing in number says e.surv

March 29, 2017

The latest Mortgage Monitor for February from e.surv Chartered Surveyors headlines ‘Strong performance continues for small deposit buyers’.

Small deposit buyers continue to grow market share and make up a fifth of the market for all new mortgage approvals – a significant increase in the past year.

In January 2017 small deposit borrowers took 18.7% of the market and in February 2016 they represented 15.7% of house purchase loans. The North West was the small deposit hotspot in February.

Richard Sexton, Director, e.surv chartered surveyors, comments: “Buyers with smaller deposits are growing in number as more people get themselves onto the property ladder. The new year started in a positive fashion and this trend has continued into February.

“This may be because mortgage lenders are now more receptive to first-time buyers, but also could be the number of government housing schemes helping people save for their deposit to buy a home.

“Despite this positive performance, the market for first-time buyers and those with small deposits still needs support. These buyers are the key to housing chains, allowing others to sell on and move up the ladder. It will be interesting to see what trends develop as the year progresses”.

The full Mortage Monitor report February2017 can be seen on lslp.co.uk/news

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

First-time buyer purchases up 59% in race to complete ahead of stamp duty deadline

Missing stamp duty deadline to cost homebuyers £6,512 as mortgage demand surges in race for completion  Spending on mortgages and rent grew by 7.7.% in February, up 5.7 percentage points from January, according to the latest Barclays Property Insights report. The report has also discovered that homebuyers could be faced with additional costs of £6,512…
Read More →
Breaking News

Half of Private Renters Reliant on Benefits Face Rent Shortfall

Almost half of all private renters in receipt of housing benefits experience a shortfall between the support they receive from government and their monthly rents. That’s according to a new analysis by the National Residential Landlords Association (NRLA) ahead of a planned freeze of housing benefit rates in April. The most recent official data reveals…
Read More →
Estate Agent Talk

What Are the Tax Benefits for Homeowners?

Owning a home is one of the most significant financial commitments an individual can make, but it also comes with several tax benefits that can help offset costs and improve overall financial well-being. The tax code includes numerous provisions designed to incentivize homeownership, making it easier for homeowners to save money through deductions, credits, and…
Read More →
Breaking News

New financial sanctions reporting obligations will apply to all letting agents

From 14 May 2025, financial sanctions reporting obligations will apply to all letting agents working throughout the UK as amended guidance and regulations made by the Office of Financial Sanctions Implementation (OFSI) come into force. Letting agents need to be aware that in contrast to the Money Laundering Regulations, the reporting obligations will apply to…
Read More →
Estate Agent Talk

Can You Make Purchasing A Property Easier For Yourself?

Can you make purchasing property easier for yourself? Yes, you can. Despite what some people may think, there are various ways in which you can make yourself a more attractive buyer, and put yourself in a better position to be accepted for things like mortgages. It takes a fair amount of work though, and you’re…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove House Price Index: Decade-high choice to benefit Spring buyers who miss stamp duty deadline

  The average price of property coming to market for sale rises by 1.1% (+£3,876) this month to £371,870, in line with the long-term March average increase, as many new sellers price sensibly amid decade-high competition to sell: While new Spring buyers will not beat this month’s stamp duty deadline, they will benefit from the…
Read More →