Monthly mortgage approvals hit second highest level in over two years

July 25, 2019
How to add value to your home

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

“While slightly below forecast, the latest figures show a very healthy level of mortgage approvals and the second-highest monthly total in over two years. This is a very positive sign for the UK property market and suggests that things are finally heading in the right direction where buyer demand is concerned.

We’ve seen the number of residential property transactions fall yet again this week, but this fresh influx of buyer activity should help to reverse this negative trend as the months go on.”

Founder and CEO of Springbok Properties, Shepherd Ncube, commented:

“A very consistent picture at one end of the property spectrum and a strong level of mortgage approvals for the third consecutive month in a row suggests that the market is alive and well from a buyer point of view. Of course, while this bodes well for the months ahead, approvals are just that, and we need to see these transitions into actual sales.

Now that Boris Johnson has the keys to Number 10 the potential transferral of stamp duty tax to the responsibility of the seller and not the buyer, could cause many home sellers to think again about listing their homes. But for the time being, conditions remain favourable for buyers and this heightened level of demand should also see sold prices start to climb which will be welcomed by sellers.”

Properganda PR

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

You May Also Enjoy

Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →
Breaking News

Breaking Property News 15/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Digital transformation of real estate drives profitability Press Release – London 14th November 2024 – Following the October budget, estate agents across the UK are seeking new ways to adapt to an evolving property market. Rising costs and shifting buyer expectations have driven a need…
Read More →
Estate Agent Talk

Labour’s Vision for Homeowners and Renters: Key Changes to Expect

The UK housing market continues to be a complex and often challenging landscape for both homeowners and renters. Labour’s vision for housing reform aims to address longstanding issues in affordability, security, and sustainability, setting out a series of policy proposals that could reshape the property market. Whether you are a homeowner, a renter, or an…
Read More →
Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →