Huge bounce in mortgage approvals sees buyer demand melt Brexit ice

The latest mortgage approval figures from UK Finance show the highest level of approvals registered during October since 2015, 9.8% higher annually, with 42,300 home buyers entering the market.

Please find comment below from Managing Director of letting and estate agent Benham and Reeves, Anita Mehra.

Managing Director of Benham and Reeves, Anita Mehra, commented:  

“The latest figures demonstrate a very real appetite for homeownership across the UK and mark the sixth consecutive month we’ve seen mortgage approval levels exceed a healthy 42,000.

This suggests that despite our political system continuing to crumble from the inside out, the Brexit ice is starting to melt when it comes to buyer sentiment and their intent to purchase.

While we may have to wait until the other side of the festive break to see this intent materialise into actual sales, it bodes well for the wider market given that our future in or out of Europe is yet to receive any concrete stamp of certainty.”

Properganda PR

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

You May Also Enjoy

Breaking News

Breaking Property News – 28/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Birchgrove and Hybr launch intergenerational living scheme A unique partnership will see students, key workers and retirees live together at new north London retirement development. Birchgrove, the UK’s leading provider of rented retirement homes, and Hybr, the UK’s leading student letting platform, today announce an industry-first…
Read More
Estate Agent Talk

Benefits Of Choosing Roger Bates Properties

Roger Bates Properties stands out as a prominent real estate agency that offers a myriad of benefits to individuals seeking to buy, sell, or invest in real estate. With a stellar reputation and a commitment to excellence, choosing Roger Bates Properties can prove to be a decision that yields numerous advantages. 1. Experience and Expertise…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 28/02/24

The average 5-year fixed mortgage rate is now 4.80%, up from 4.59% a year ago The average 2-year fixed mortgage rate is now 5.15%, up from 4.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.73%, up from 4.64% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.30%, up from 4.25% a year ago The average monthly mortgage payment on a…
Read More
Love or Hate Rightmove
Breaking News

Rightmove calls for stamp duty reform with only 4% of London homes exempt

Ahead of the Spring Budget on March 6th, the UK’s biggest property website Rightmove suggests three policy reforms that could help people moving home: A reform of stamp duty to consider regional property price variations: Only 4% of homes in London are stamp duty exempt for all buyers, compared to 71% in the North East Less than…
Read More
Breaking News

Breaking Property News – 27/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Alto reveals ‘next generation’ of Lettings Progression Alto, software for estate agents and part of Houseful, has revealed further information about the improvements being rolled out in 2024 to drive a step change in business efficiency for letting agents. Leading the way is a…
Read More
Home and Living

The Versatility of Parquet Flooring in Contemporary Homes

What comes into your mind when you hear about parquet flooring? Most probably Victorian era, historic estates, grand ballrooms, and grand mansions but what if I tell you that the parquet flooring has redefined itself with warmth, texture, and classic elegance? Parquet flooring in contemporary homes is a delight to the eyes because when you…
Read More