Mortgage approvals at lowest for 18 months
August 31, 2016
According to figures out yesterday from The Bank of England (BoE) the number of mortgages approved by banks and building societies is at its lowest for 18 months.
New mortgages approved in July totalled 60,912 down from 64,512 in June, the lowest total since Januray 2015 and a 12.4% drop in the number of mortgage approvals on the same month a year ago.
The total amount lent out for house purchases was £10.4bn, down from £11.1bn in June.
Remortgaging increased to 43,084 in July, that is up on the average of 41,887 over the previous 6 months.
You May Also Enjoy
Property compliance experts urge landlords not to ignore major tenancy changes under Renters’ Rights Act
Beresfords property group highlights key actions landlords must take as new tenancy rules, enforcement powers and energy standards approach. UK landlords are being warned not to overlook major changes to tenancy agreements and compliance requirements, as the Government moves closer to implementing the Renters’ Rights Act 2025. Following the publication of draft secondary legislation, the…
Read More 
Nationwide becoming first lender to allow mortgage deeds to be signed digitally
Mary-Lou Press, President of NAEA Propertymark (National Association of Estate Agents), comments: “The conveyancing process remains one of the most common sources of frustration for buyers and sellers, with more than 30 per cent of housing transactions taking over 17 weeks to complete on average. These prolonged timescales only serve to increase pressure and uncertainty…
Read More 
Fruitful year ahead for aspiring first-time buyers
First-time buyers and those with little equity to refinance will find greater mortgage choice. During January, there was an uplift in higher LTV deals, with 90% LTV options at a record-high, plus a boost to 95% LTV deals, which are at their highest count since March 2008. The electronic monitoring of LTV choice at Moneyfacts…
Read More 
Lovelocked London homebuyers face romance premium
The latest research by London lettings and estate agent, Benham and Reeves, reveals that lovelocked London homebuyers house hunting across the capital’s most romantic locations can expect to pay house premiums of more than 64%. But couples can still find great value if they know where to look. Benham and Reeves has identified nine of…
Read More 
First-time buyers face highest hurdle in England
The latest research from Yopa has found that while first-time buyers in England continue to face the highest cost of getting a foot on the property ladder, at £27,807, it’s their Scottish counterparts who have seen this cost rise by the largest margin over the last year, increasing by 5.5%. Yopa analysed* the current cost…
Read More 
Rental price and average salary tracker – January 2026
Seasonal cooling deepens regional rent declines, while affordability pressures remain structurally high Month-on-month rental prices fell across the majority of regions, with particularly pronounced drops in the North East (−10.0%), South West (−8.1%), Yorkshire and Humberside (−7.4%), and Wales (−6.1%), highlighting a clear seasonal slowdown as demand softens post-Christmas. Year-on-year salary requirements show only modest…
Read More